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Viacom Downgraded to “Neutral” at Wedbush (VIAB)
Wedbush reported on Thursday that they have lowered their rating on entertainment company, Viacom, Inc.(VIAB
).
The firm has downgraded VIXB from “Outperform” to “Neutral,” and has given the company a $63 price target. This price target suggests a 8% upside to the stock’s current price of $58.
Analysts have downgraded the stock, stating that there is limited growth to their price target. The firm sees the company having positive catalysts in FY2013 or FY2014 rather than in the next two quarters.
Viacom shares were down 79 cents, or -1.33% during Thursday morning trading. The stock has increased 19.5% in the past year.
The Bottom Line
Shares of Viacom, Inc.(VIAB) have a 1.90% yield, based on Thursday morning’s price of $58.
Viacom, Inc.(VIAB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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