Wunderlich Securities Sees Sony Deal As Good For Viacom, Inc.
In a report published Thursday, Wunderlich Securities analyst Matthew Harrigan reiterated a Buy rating and $119.00 price target on Viacom, Inc. (NASDAQ: VIAB).
In the report, Wunderlich Securities noted, “Yesterday, Buy-rated Viacom (VIAB) agreed to provide access for 22 cable networks, including Nickelodeon, MTV, and Comedy Central, for Sony's (SNENR) nascent U.S. over-the-top TV service. The cloud-based service will be delivered to PlayStation consoles, Bravia TVs, and other Sony devices later this year. Details on pricing are thin, but we suspect that MTV Networks commanded a comparable ratings price card to current distributor deals. Given the likely emphasis of the service on youth demographics and MTV Networks' low affiliate fees relative to ratings delivery, Viacom's #1 27% cable network ratings share among 2 to 34 year olds allows it to both maintain its pricing integrity while supporting new distributors.”
Viacom closed on Wednesday at $80.24.
Latest Ratings for VIAB
Aug 2014 | Barclays | Maintains | Underweight | |
Jul 2014 | Cowen & Company | Downgrades | Outperform | Market Perform |
Jul 2014 | Barclays | Initiates Coverage on | Underweight |
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