VIAC Stock Price: $30 Target By Rosenblatt

By Annie Baker ● November 18, 2020
  • Shares of ViacomCBS Inc. (NASDAQ:VIAC) have received a price target increase from $28 to $30 by Rosenblatt Securities. These are the details.

Shares of ViacomCBS Inc. (NASDAQ:VIAC) have received a price target increase from $28 to $30 by Rosenblatt Securities. And Rosenblatt analyst Bernie McTernan is reiterating a Hold rating on the stock.

McTernan is expecting ViacomCBS to post earnings per share of $1 for Q4 2020. This would be up from $0.91 cents per share for Q3 2020. In Q3 2020, ViacomCBS had reported revenues of $6.12 billion and a net profit of $993 million.

ViacomCBS — which runs Nickelodeon, BET, Comedy Central, CBS, MTV, Paramount, and SHOWTIME — holds the rights to the NFL, Professional Golf Association, Champions League, and college basketball. And early next year, ViacomCBS is planning to relaunch its paid streaming service CBS All Access under a new name called Paramount+.

In Q3 2020, ViacomCBS had reported its domestic subscriber base increased to 17.9 million. And ViacomCBS CEO Bob Bakish increased the year-end subscriber target for the second straight quarter.