CBS Corp. (CBS): Dilutive Transaction Is Unlikely - Guggenhiem
Get Alerts CBS Hot Sheet
Rating Summary:
20 Buy, 12 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 3
Join SI Premium – FREE
Guggenheim analyst, Michael Morris, reiterated his Buy rating on shares of CBS (NYSE: CBS) along with the price target of $63. Since reporting 2Q earnings on July 28, CBS shares have under-performed peers (down 5.7% compared to a 2.4% decline for the media industry).
The analyst believes the relative weakness reflects investor concern that the company will combine with Viacom (NASDAQ: VIAB) on terms that will prove to be unattractive to current shareholders. The analyst sees a dilutive transaction as unlikely and believes the company remains on track to grow its content and platforms businesses, generate strong advertising and subscription cash flow, and further streamline its operating structure over the next two years.
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 $51.03 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
- Snap Inc (SNAP) PT Raised to $14 at Bernstein SocGen Group
- BofA Securities Downgrades Hertz Global (HTZ) to Underperform
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Earnings, GuggenheimSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!