Analyst calls Viacom ‘attractive’

PaineWebber analyst Christopher Dixon initiated coverage of Viacom Inc. with an “attractive” rating, saying its Class B common shares have little downside risk from current levels. Dixon also estimated that a proposed Viacom/Blockbuster/Paramount entity would post 1995 cashflow of $ 5.81 per share.

Viacom “is guaranteed a seat at the table with ‘the big boys,’ gains access to a well-established TV/motion picture production facility (and) is able to expand its retail distribution capacity while enhancing each of its core network brands,” Dixon wrote in a research comment.

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