Barrington analyst James Goss upgraded ViacomCBS to Outperform from Market Perform with a $30 price target. The upgrade partly reflects the company’s better than expected progress in direct-to-consumer subscriber gains and signs that its integration efforts are achieving early success, Goss tells investors in a research note. While key revenue and profitability metrics fell in Q1, reported and prospective subscriber gains for paid subscription services and monthly active user progress for the Pluto TV service “fuel optimism that the seeds of growth for the merged entity are taking root more quickly than we were envisioning,” says the analyst. His valuation model suggests “significant upside exists” in the shares from “current depressed levels.”