Soleil Securities Upgrades CBS Corp. (CBS) to Buy; Suggests Shorting Lamar (LAMR)
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Soleil Securities upgrades CBS Corp. (NYSE: CBS) from Hold to Buy. Price target increased from $5 to $9.
Soleil analyst says, "Upgrade to Buy from Hold as debt is 85% correlated to its equity price and debt has strengthened. Retail stocks typically turn up before media stocks. The Retail Index is up 55% since 11/08. We expect CBS to catch up. We suggest a pairs trade of long CBS and short Lamar (Nasdaq: LAMR)."
CBS Corporation (CBS Corp.) is a mass media company with operations in Television, Radio, Outdoor, Interactive and Publishing segments.
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