We are moving ViacomCBS (VIAC) to a SELL
With the shares continuing to surge past our recently raised 65 price target, and now being priced at a premium to even our upgraded valuation metrics, we are moving the shares to a SELL.
ViacomCBS’ fundamentals look healthy, so our call is driven by the valuation. The shares are increasingly becoming a “growth story” and have moved beyond the “undervalued story” that is the focus of our strategy. The company reports earnings on Wednesday, February 24.
VIAC shares have produced a total return of approximately 142% from our initial recommendation in the Cabot Undervalued Stocks Advisor on August 26, 2020 at 27.57.