Wall Street Wonders What's Up With Viacom's U.S. Ad Sales?

Forecasts are all over the place ahead of the media company’s May 3 report on its performance in the first three months of this year. The question is whether the strengthening ad market will outweigh the declining ratings at two of Viacom’s most important networks: Nickelodeon and MTV. Miller Tabak analyst David Joyce joined the skeptics this morning. He downgraded Viacom to “neutral” and reduced his price target to $51 from $56, in part because he believes Viacom’s ratings problems make it “the most-at-risk programmer for the upcoming earnings season.” Joyce now expects Viacom to report that domestic ad sales fell 3.4% last quarter vs the same period in 2011 — a change from his previous prediction of a 2.5% gain. But Susquehanna Financial Group analyst Vasily Karasyov reached a different conclusion on Tuesday. (more…)

This article was printed from https://deadline.com/2012/04/wall-street-wonders-whats-up-with-viacoms-u-s-ad-sales-255692/