RBC Capital Upgrades Viacom (VIAB) to Outperform

RBC Capital analyst Steven Cahall upgraded Viacom (NASDAQ: VIAB) from Sector Perform to Outperform with a price target of $36.00 (from $31.00).

Cahall commented, "Viacom's DirecTV deal was less contentious than thought, and we think crystallizes its improved standing. More importantly we think it paves the way towards merger talks. We see >30% implied upside on a CBS merger and advise investors to hedge exchange ratio risk by owning both. Better Viacom + likely deal = new $36 target."

For an analyst ratings summary and ratings history on Viacom click here. For more ratings news on Viacom click here.

Shares of Viacom closed at $29.35 yesterday.

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