ViacomCBS's (VIAC) (VIACA) stock has increased by more than 50% since my latest article on the company was published back in May and there’s every reason to believe that it will appreciate further in the near-term. Despite the weakness of the advertising market, which was caused by the pandemic, the company’s streaming revenues were able to offset the total losses and ViacomCBS successfully beat its income forecast for the quarter. Since ViacomCBS doesn’t have any debt maturities in the next couple of years, the management will be able to rebrand and launch its new OTT offerings and not worry too much about the company’s leveraged balance sheet. By trading below its peers, ViacomCBS continues to be one of my top picks in the media industry and I have no plans to unwind my position in the foreseeable future.

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