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ViacomCBS Hit With Surge of Bearish Calls After 169% Stock Rally
- MoffettNathanson is latest to cut recommendation on the shares
- Company lost $18 billion of value after stock offering news
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ViacomCBS Inc. is falling out of favor on Wall Street as analysts warn the rally fueled by optimism about its flagship streaming service is overdone.
The giant media company got at least 10 downgrades since the start of 2021, with MoffettNathanson now advising investors to sell the stock. The decision drove a gauge of consensus ratings for the shares -- a ratio of all recommendations -- to the lowest level on record, according to data compiled by Bloomberg.