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Fly News Breaks for January 30, 2020
Jan 30, 2020 | 06:30 EDT
Rosenblatt analyst Bernie McTernan initiated coverage of ViacomCBS (VIAC) with a Neutral rating and $38 price target. The analyst notes that the company's "early mover" advantage in content production will be "competed away" over time with streaming distribution becoming "table stakes" for media companies. McTernan adds that the strategy of ViacomCBS to license its content to other SVOD services suggests that its own streaming service similar to Disney's (DIS) Disney+ is "less likely".