UBS Maintains a 'Buy' on CBS (CBS); Raising Numbers on Solid Q2
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Price: $51.03 -0.04%
Rating Summary:
12 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
12 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade CBS Now!
UBS maintains a 'Buy' on CBS (NYSE: CBS) price target of $38.00 (from $37.00).
Analyst, John Janedis, said, "CBS 2Q OIBDA of $901M beat our Street-high $869M (Street: $857M) with the upside primarily in Entertainment (NCAA shift and syndication). Revenues were in line with our est at $3.48B, but light vs. the Street ($3.53B). We are tweaking our 3Q/ 4Q estimates to $0.65/ $0.76 vs. our prior $0.64/ $0.75, including higher retrans, the sale of CSI: Miami to Netflix (Nasdaq: NFLX) ($0.02), $50M/qtr more in share repurchases, offset by lower network ad growth. The earnings momentum story of the past two years continues to play out."
FY12 EPS estimate raised from $2.52 to $2.60 and FY13 from $2.86 to $2.90.
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 $33.04 yesterday, with a 52 week range of $17.99-$35.00.
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Analyst, John Janedis, said, "CBS 2Q OIBDA of $901M beat our Street-high $869M (Street: $857M) with the upside primarily in Entertainment (NCAA shift and syndication). Revenues were in line with our est at $3.48B, but light vs. the Street ($3.53B). We are tweaking our 3Q/ 4Q estimates to $0.65/ $0.76 vs. our prior $0.64/ $0.75, including higher retrans, the sale of CSI: Miami to Netflix (Nasdaq: NFLX) ($0.02), $50M/qtr more in share repurchases, offset by lower network ad growth. The earnings momentum story of the past two years continues to play out."
FY12 EPS estimate raised from $2.52 to $2.60 and FY13 from $2.86 to $2.90.
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 $33.04 yesterday, with a 52 week range of $17.99-$35.00.
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