UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Viacom on Last Entertainment Group Value Play

In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Viacom VIAB, and raised the price target from $93.00 to $98.00. In the report, Deutsche Bank noted, “We see Viacom as the last value play in the Entertainment group; it trades at a ~3x discount (14x CY14E P/E vs. sector 17x) despite returning to normal growth (DBe 7% FY14 EBITDA growth). We expect this discount will narrow as investors gain confidence in sustainability of growth and through continued strong stock repurchases (~8% of shrs out FY14e). Maintain Buy.” Viacom closed on Thursday at $80.75.