CBS (CBS) Added to Jefferies Franchise Pick List

Jefferies analyst John Janedis added CBS (NYSE: CBS) to the firm's Jefferies Franchise Pick List while reiterating a Buy rating price target of $65.00

Janedis comments, "CBS' stock has underperformed the market this year on weaker ad growth, secular concerns, and downward est revisions. In this note, we look at the key contributors to EPS from '14 to '16, incl retrans/reverse, return of capital, Showtime, & VMVPDs, and view spectrum in CBS' duopoly markets as a call option for investors. Bottom Line: We think CBS still has some rabbits to pull."

The firm trimmed FY 2015 EPS from $3.76 to $3.73.

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 $54.07 yesterday.

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