UBS Maintains a 'Buy/Top Pick' Rating on CBS (CBS); Raising PT & Estimates on Growth Drivers

UBS maintains a 'Buy/Top Pick' rating on CBS (NYSE: CBS) price target raised from $33 to $35.

UBS analyst said, "We believe CBS has a number of levers to pull over the next several years to help drive future earnings growth, including lucrative syndication and SVOD content sales, accelerated growth in retrans/ reverse comp dollars, and add’l refinancing of the balance sheet, to name a few. We are raising our ’12 and ’13 EPS ests to $2.44 (Street: $2.34) and $2.80 (Street: $2.68) vs. our prior $2.40 and $2.66, giving more credit in our model to the above levers."

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 $31.52 yesterday.

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