VIACA - Streaming can't make ViacomCBS a growth stock analyst says; shares keep rising
ViacomCBS is adding to its run along with the market today - [[VIAC]] +5.1, [[VIACA]] +4.6% - leading communications services stocks higher today. That puts a button on gains of 134% in 2021 - tops in the S&P 500 so far this year. And it comes in spite of some lukewarm water thrown by MoffettNathanson, which says that a splashy streaming launch isn't enough to turn ViacomCBS into a growth company. The firm is positive on the prospect of unique content to help grow the new Paramount Plus service in the U.S., as well as Pluto TV's benefiting from a shift toward ad-supported video on demand. But the company's overvalued even if short-term drivers make a growth narrative front and center, it says. "So with the updated Paramount+ strategy now known, did we learn enough to change our view that ViacomCBS will not be able to use streaming to make
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Streaming can't make ViacomCBS a growth stock, analyst says; shares keep rising