Fly News Breaks for February 21, 2020
Feb 21, 2020 | 06:21 EDT
Wells Fargo analyst Steven Cahall resumed coverage of ViacomCBS with an Underweight rating and $25 price target. Consistent negative revisions paired with a "big" Q4 miss and softer 2020 guidance leave management's credibility "irreparably damaged for the time being," Cahall tells investors in a research note. The analyst sees further downside to his $25 price target, even with the stock down 30% year-to-date.
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