Needham & Company Maintains a 'Buy' on CBS (CBS): Q1 Preview

Needham & Company maintains a 'Buy' on CBS (NYSE: CBS) price target of $37.00.

Analyst, Laura Martin, said, "We are raising our estimates for CBS. We are raising our 1Q12 revenue estimate to $3.78B, up 8% y/y (up 1% from our previous estimates), our OIBDA estimate to $710mm, up 23% y/y (up 1% from our previous estimates), and our EPS from Operations estimate to $0.44, up 52% y/y (up $0.01 from our previous estimates). We are raising our 1Q12 estimates for CBS to reflect the following changes: We are raising our estimates for the Entertainment division - revenue and OIBDA are up 2% versus previous estimates - to reflect a stronger than expected ad market as well as better results from CBS’s streaming deals announced last year."

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 $32.50 yesterday.

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