Viacom Shares Fall After Deutsche Bank Downgrade

MarketWatch: Viacom shares fell 1.2% in early trade Monday, after Deutsche Bank downgraded the stock to hold from buy but maintained its $56 price target after the stock gained about 35% from its late August low. “While Viacom’s valuation multiples still constitute the low end of the sector range, we think this will persist given our projected growth outlook, which is lower than the rest of the media companies for structural reasons,” analysts wrote in a note.