Here's Why Shares of Viacom Are Lower Friday

Viacom shares were lower Friday morning as Telsey Advisory adjusted its view on the media conglomerate.
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Viacom  (VIAB) - Get Report shares were lower Friday morning as Telsey Advisory adjusted its view on the media conglomerate. The firm cuts its rating on the stock to Market Perform from Outperform and lowered its price target by to $47 a share from $51 a share. Telsey believes a Viacom credit downgrade is a real threat after Moody's lowered its rating outlook to negative from stable last month. The firm also thinks a turnaround in 2017 is not likely to happen.

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