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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

View More Analyst Ratings for VIAB
View the Latest Analyst Ratings

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© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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