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Shares of Viacom, Inc. VIAB were falling consistently over the first 9 months of the year, losing more than 45 percent.
- However, since the start of September, the stock recovered roughly 25 percent.
- Collectively, the Vetr crowd has downgraded the stock from 3.5 stars to 3 stars.
Broadly speaking, the Vetr crowd is becoming increasingly bearish on Viacom. On Friday, they downgraded the stock from 3.5 stars to 3 stars, although 75 percent of the crowd's ratings are optimistic.
Related Link: Vetr Crowd Upgrades First Solar, Virgin America To Buy: Here's Why
The crowd has established a $54.05 target price for the stock, which implies an upside of almost 7 percent from current prices. Wall Street is slightly more bullish, and sports an average price target of $61.96.
In a recent report, analysts at Deutsche Bank also downgraded the stock from Buy to Hold, reiterating a $56 price target. They explained they believe the shares will continue to tumble after the recent rally, a selloff driven by valuation.
Related Link: Bearish Reaction To Semiconductors: Vetr Crowd Downgrades Advanced Micro Devices And Texas Instruments
Viacom's affiliate growth outlook is not very promising either, analysts noted, pointing out that Viacom “has less tent-pole programming and no sports.”
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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