Why Did Barclays Downgrade Viacom?


viacom-new2017By all accounts, Viacom‘s fiscal Q1 2017 was a strong one.

While the media company experienced a year-over-year dip in its net earnings, the results were much higher than what 14 analysts surveyed by Zacks Investment Research expected, and also easily beat the forecast from analysts tracked by FactSet.

The better-than-expected results led three Wall Street analysts to upgrade Viacom.

Another three analysts boosted Viacom’s target price.

But Barclays analyst Kannan Venkateshwar on Friday (2/10) downgraded Viacom. Why?

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