Viacom, CBS Corp. and Disney shares have in recent days hit 52-week highs and reached price levels not seen in a few years as analysts say investors have gained new comfort in the economic and
advertising outlook. "There has been increasing confidence in the economy and ad market as well as a sense that over-the-top video will not be that disabling to business models," Wunderlich Securities
analyst Matthew Harrigan said. Class B shares of Viacom reached a 52-week high of $41.74 on Wednesday before closing up 0.6% on the day to $41.22. This year, Viacom shares are up 4.1%.
Similarly, CBS shares hit a 52-week high of $20 on Wednesday and finished up nearly 1% at $19.78. Year-to-date, the stock has gained 3.8%. Shares of Disney, after a 16% gain in 2010, managed a 10-year
high of $40 on Jan. 5.
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