Needham Believes ViacomCBS (VIAC) Won’t Stop Here

Needham analyst Laura Martin assigned a Buy rating to ViacomCBS (VIAC) today and set a price target of $55.00. The company’s shares closed last Wednesday at $43.36, close to its 52-week high of $46.86.

According to, Martin is a top 100 analyst with an average return of 33.6% and a 69.6% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, World Wrestling, and Walt Disney.

ViacomCBS has an analyst consensus of Hold, with a price target consensus of $37.46, implying a -14.3% downside from current levels. In a report issued on January 12, Wells Fargo also maintained a Buy rating on the stock with a $43.00 price target.

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The company has a one-year high of $46.86 and a one-year low of $10.10. Currently, ViacomCBS has an average volume of 11.79M.

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ViacomCBS, Inc. operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films as well as the Company’s digital streaming services, CBS All Access and CBSN. The Cable Networks includes Showtime Networks, CBS Sports Network, and Smithsonian Networks. The Publishing segment manages the Simon & Schuster’s consumer book publishing business with imprints such as Simon & Schuster, Pocket Books, Scribner, and Atria Books. The Local Media segment handles the CBS Television Stations, and CBS Local Digital Media, with revenues generated primarily from advertising sales and retransmission fees. The company was founded by Sumner Murray Redstone in 1986 and is headquartered in New York, NY.

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