Viacom (VIAB) - Get Viacom Inc. Class B 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 CBS Corporation Class B Report is closer to fruition following its negotiations with AT&T's (T) - Get AT&T Inc. 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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