RBC upgrades ViacomCBS, says streaming development and Archegos sell-off make a shopping for alternative
Signage on the ViacomCBS headquarters throughout a winter storm in New York, U.S., on Friday, Feb. 19, 2021.
Mark Kauzlarich | Bloomberg | Getty Photographs
ViacomCBS‘ decline from the Archegos implosion has minimize deep sufficient, and streaming development provides the inventory vital upside, in line with RBC Capital Markets.
Analyst Kutgun Maral upgraded the inventory to outperform from sector carry out on Friday, saying that streaming development outweighed struggles within the cable TV enterprise. Shares of Viacom have declined greater than 60% after touching $100 in March after Archegos, the household workplace led by hedge fund veteran Invoice Hwang, failed to satisfy margin calls and led to liquidations of blocks of shares from main banks.
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