finally announced their long-expected merger. The deal, unveiled Tuesday, is a $30 billion, all-stock transaction. The two trading days after the announcement, though, shaved about 11% off the value of both stocks.The downturn in four of the previous five sessions ended Friday with a 1% uptick in CBS and fractional gain for Viacom shares did not erase the 11% downturn since the companies merger announcement — a $3 billion hit on paper.
Two analysts offered bullish takes on ViacomCBS on Thursday and Friday to counter some of the pessimistic views on Wall Street. Jessica Reif Ehrlich of Bank of America Merrill Lynch . “While it is difficult to pinpoint the exact sources of investor concern, we remain confident in the upside case,” Ehrlich wrote in a note to clients.
Alan Gould of Loop Capital cited the combined company’s streaming assets as a key reason for his upbeat view. “We believe the average viewer will take 3-4 OTT services,” he reasoned in a research note. “Netflix and Disney will likely be the top two choices for most consumers, but we believe CBS All Access and its compelling products to be the third or fourth choice and expect Pluto to continue to grow quickly as a free service.
हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
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