On the eve of its 4Q05 and year-end earnings call, Viacom‘s recent road show seems to have the desired results with at least a couple of analysts.
Jessica Reif Cohen, Merrill Lynch: Viacom’s ability to trade at a “modest premium” compared to peers “is more than justified by its superior growth profile and its position as a pure play on content. … We anticipate that Viacom’s international and new media businesses will fuel significant growth for the foreseeable future.”
Richard Greenfield, Pali Research: A positive review for the new Viacom as he initiates coverage, stressing the importance not only of multiple platforms but multiple distributors: “The key underlying theme to our BUY rating on Viacom is that technology is driving an expanding number of distribution outlets รข
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