- Viacom (VIA +0.5%, VIAB +0.1%) and CBS (CBS +1.1%) are still moving toward a merger, United First Partners says, and analyst Ivan Deryugin still recommends buying Viacom.
- With an update after reports that the two companies will resume discussions around re-merging in earnest in mid-June, Deryugin trimmed his price target on VIAB to $35 from $36, implying 20.6% upside.
- He notes some uncertainty was dismissed with the preservation of Viacom's channels on AT&T pay TV.