Wunderlich Securities Reiterates Buy on Viacom

Wunderlich Securities reiterated its Buy rating on Viacom (NYSE: VIA.B). In a research report published today, Wunderlich stressed income generating power of MTV as one of the reasons for its decision.

In the report, Wunderlich states, "We remain positive on Buy-rated Viacom (VIA-B) as the cable upfront market culminates with MTV Networks having already moved significant inventory into the weekend... We assume that ratings breakouts for shows such as Jersey Shore only gradually equate equitably to ad dollars, with the positive being that MTV Networks appears hardwired to generate consistent ad and affiliate fee growth in a new normal economy."

At the moment, Wunderlich has a price target of $60 placed on the company's stock. On Friday, Viacom closed the week at $48.13.