ViacomCBS Upgraded To Market Perform From Underperform At BMO Capital

BMO Capital analyst Daniel Salmon upgraded ViacomCBS (VIAC) to Market Perform from Underperform with an unchanged price target of $70.

"It could make sense to get more proactive" if the stock remains under pressure and heads below a $35 "fundamental downside scenario," Salmon tells investors in a research note. While that scenario incorporates downward estimate revisions, those are increasingly priced in at current share levels, says the analyst. Salmon adds that while his $70 price target implies considerable upside, he thinks a Market Perform is more appropriate "until trading volatility clears."

Salmon believes $3B in free cash flow for ViacomCBS's streaming businesses in 2030 is reasonable given its "vast library" of owned content and accelerated shift to streaming.


Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.