Viacom, Intel Downgraded; Analysts Start Coverage on PayPal

In Friday's Analysts' Actions, TheStreet highlights a number of major companies. Viacom (VIAB) and Intel (INTC) get their ratings lowered while analysts begin coverage on PayPal (PYPL). Wells Fargo Securities downgraded entertainment company Viacom to MARKET PERFORM from OVERWEIGHT on Friday morning. The company's third quarter 2015 earnings results missed analysts' estimates on the top line. Looking ahead, analysts say the company could face some challenges in advertising and upcoming affiliation renewals. The firm also lowered its price target range to between $47 to $50 from $80 to $95. It's a similar story for Intel. Analysts at Drexel Hamilton cut the chip giant's rating to HOLD from BUY. Analysts cited competitive factors and 'declining visibility in key PC and server end markets.' On another note, analysts at Topeka Capital markets initiate coverage of PayPal with a BUY rating and a price target of $44. The firm says after spinning of eBay (EBAY), it has a high growth potential. TheStreet's U-Jin Lee reports from New York.