A report from a Wall Street analyst who urged bold moves by Viacom was met with a surge in the company’s share prices. The New York Post reports that Viacom stock rose 4.5% Monday, closing at $36.86, following the report from Bernstein’s Todd Juenger.
Juenger “suggested that Viacom should just throw in the towel as a public company,” the Post reports, noting that the company “has been under attack from every quarter for the past few months and is set to face an angry shareholder base at its March 14 annual meeting.”
In his grim assessment, Juenger sees the stock price headed to $17. “Juenger suggests selling movie studio Paramount, international operations and African American audience-focused BET, while taking private the core US cable networks — MTV, Comedy Central and Nickelodeon,” the Post reports.