Currently the Viacom’s shares are trading at $43 per share, down by 39% over the last two years.
Barron’s has predicted that Viacom’s shares could appreciate by as much as 40% by next year with its new CEO, Bob Bakish, focusing on its Paramount Pictures studio and a handful of its networks to turn around its business.
Controlled by 93-year-old media mogul Sumner Redstone and his daughter Shari Redstone, Viacom had earlier been caught in a turmoil which saw the resignation of its former CEO, Philippe Dauman.
Bakish had earlier headed Viacom’s international business. After he was made the CEO, Bakish had stated that his primary focus would be Paramount and his five flagship networks, which include, MTV, Nickelodeon, Nick Jr, Comedy Central and BET.
As per Barron’s, the stock has a lot of potential for an upswing, especially at its current trading price of $43 per share, down by 39% over the past two years.
Representatives for Viacom did not immediately respond to a request for comments.