Benchmark Capital Initiates Coverage on CBS Corp (CBS) with a Hold; Near-Term Outlook Not Promising
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Benchmark Capital initiates coverage on CBS Corp (NYSE: CBS) with a Hold.
Benchmark analyst says, "Though we are inclined toward a positive investment posture regarding CBS shares based on the Company's prospects for renewed growth in revenues and earnings given an economic recovery, and its sound financial condition, we are establishing a Hold rating because of the extremely negative (and volatile) near term outlook...CBS' near term outlook is not promising, but the Company seems positioned for renewed growth in 2010 and beyond, once economic conditions improve and thus drive a recovery in advertising revenues. Long term growth should also benefit from CBS' Management's growth strategy to continue to expand non-advertising revenues."
CBS Corporation (CBS Corp.) is a mass media company with operations in Television, Radio, Outdoor, Interactive and Publishing segments.
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