Wells Fargo Analysts Slash Viacom Stock; Anticipating a Mixed Quarter

Shares of Viacom (VIAB) - Get Report are lower Monday after the stock was downgraded by Wells Fargo analysts to UNDERPERFORM from MARKET PERFORM. Analysts say they anticipate a mixed quarter for the media company. On the positive side, they said they are looking for accelerating cable network ad growth and stability in affiliate fee growth. But on the negative side, they are looking at the deceleration in broadcast network advertising and a 'pretty disappointing film slate.'