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Viacom (VIAB - Get Report)  was rising Friday after analysts at RBC Capital Markets upgraded the stock to outperform on the view that its potential merger with CBS (CBS - Get Report) is closer to fruition following its negotiations with AT&T's (T - Get Report) DirecTV.

Media company and pay-television operator Viacom last week announced a deal that averted a blackout of the company's channels. 

That development paves the way for merger talks between Viacom and CBS to forward "but deal or no deal, we believe Viacom is in a better spot and kudos to management," analyst Steven Cahall wrote. 

The firm raised its price target to $36 from $31.

Viacom rose 2% to $29.86 in trading Friday. 

Viacom is a holding in Jim Cramer's Action Alerts PLUS charitable trust

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