Deutsche Bank Maintains 'Buy' On Viacom (VIA), Trims Price Target
Thursday, February 02, 2022 9:57 AM

Deutsche Bank (DB) maintained its "Buy" rating on Viacom Inc. (NASDAQ:VIA), while trimming its price target on the stock to $57 from $60.

Nickelodeon ratings continue to disappoint but could improve the next few months as new programming launches, the bank wrote in a note.

"While we might appear overly patient given multiple ad estimate downgrades (though FY12 EPS unch’d), we find the valuation (10x FCF) / return of capital ($20b over 5 yrs) combination compelling and expect ratings challenges are cyclical not secular," DB said.

The stock, which has been trading between $44.10 and $60.90 over the 52-week period, inched 0.9 percent higher to close at $52.95 on Wednesday.