VIACA - ViacomCBS wraps day with solid gain as analysts weigh streaming legacy business

ViacomCBS gained from the open to finish the day solidly higher ([[VIAC]] +3.3%, [[VIACA]] +1.7%) as analysts offered takes on the company's first-quarter earnings beat. The report brought upgrades from Wells Fargo and RBC. Also, staying bullish on the shares is Guggenheim's Michael Morris, who believes that a new ad-supported tier on Paramount Plus will help open up a new target audience while also driving ad inventory for EyeQ. He does says that an anticipated revenue bump from free user conversion is set to be spent on increased investment in Q2. A sum-of-the-parts analysts leads him to $57 price target, implying 45% upside to be had. Staying at Market Perform is Barrington Research, which praises a compelling offering in Paramount Plus, but notes that incremental profit from championship style events trends small. And bearish KeyBanc actually shaved its price target a bit, to $34 (vs. today's close of $39.39). Stripping

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ViacomCBS wraps day with solid gain as analysts weigh streaming, legacy business