BMO Capital Downgrades CBS (CBS) to Market Perform as Re-Merger Approaches

November 23, 2016 6:07 AM EST
Get Alerts CBS Hot Sheet
Price: $62.56 -1.6%

Rating Summary:
    23 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
Trade CBS Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

BMO Capital downgraded CBS (NYSE: CBS) from Outperform to Market Perform while maintaining a $63 price target as the likely re-merger approaches.

Analyst Daniel Salmon commented, "We believe "the best mix shift story in media" is fairly valued and expect CBS will become a "deal stock" with VIAB soon. To be sure, that outcome is not 100% yet and we would be fundamentally productive on CBS in the mid-$50s. But we also believe the stock has worked through several catalysts, including an accelerated buyback this Q. Patient investors can hold and work through a merger, or we recommend FOXA if fundamental investing is still the priority. New Media pecking order: FOXA, TWX, CBS, VIAB, DIS."

For an analyst ratings summary and ratings history on CBS click here. For more ratings news on CBS click here.

Shares of CBS closed at $60.93 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Downgrades

Related Entities

BMO Capital, Definitive Agreement

Add Your Comment