Wedbush Maintains a 'Neutral' on CBS (CBS); Licensing and NCAA Boost Offset by Softness in Broadcast

May 2, 2012 1:25 PM EDT
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Price: $62.32 --0%

Rating Summary:
    23 Buy, 7 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 10 | New: 3
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Wedbush maintains a 'Neutral' on CBS (NYSE: CBS) price target raised from $33 to $35.

Analyst, James Dix, said, "Raising 2012/13E EPS to $2.46/$2.80 from $2.40/$2.73, primarily on Showtime online licensing revenue and higher international syndication estimates. Higher entertainment and cable networks revenue and OIBDA estimates drive our consolidated changes, as well as flowing through a bit higher core TV network ad revenue than we estimated for 1Q."

Wedbush maintains a Neutral on shares, citing content upside being offset by advertising risk (mainly in the U.S.)

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 $33.42 yesterday.

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