Nomura Securities Maintains a 'Neutral' on CBS (CBS); Raising PT and Estimates
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Price: $40.77 --0%
Rating Summary:
20 Buy, 12 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 12 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on CBS (NYSE: CBS) price target raised $1 to $35.
Analyst, Michael Nathanson, said, "CBS reported first quarter EPS of $0.54, $0.07 better than our above-the-street estimate of $0.47 (vs. $0.44 consensus). We estimate two-thirds of the upside surprise was driven by higher adjusted EBITDA of $784 million vs. our estimate of $751 million, primary from Cable Networks due to better syndication sales and lower timing-related operating expenses. 2012E/2013E EPS from $2.42/$2.80 to $2.50/$2.82; In the near term, having taken numbers already significantly higher into 2013, we don’t foresee materially higher revisions post yesterday’s well telegraphed beat. CBS is trading at 13.4x our revised CY12E EPS with limited upside, in our view.:
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 $33.42 yesterday.
Analyst, Michael Nathanson, said, "CBS reported first quarter EPS of $0.54, $0.07 better than our above-the-street estimate of $0.47 (vs. $0.44 consensus). We estimate two-thirds of the upside surprise was driven by higher adjusted EBITDA of $784 million vs. our estimate of $751 million, primary from Cable Networks due to better syndication sales and lower timing-related operating expenses. 2012E/2013E EPS from $2.42/$2.80 to $2.50/$2.82; In the near term, having taken numbers already significantly higher into 2013, we don’t foresee materially higher revisions post yesterday’s well telegraphed beat. CBS is trading at 13.4x our revised CY12E EPS with limited upside, in our view.:
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 $33.42 yesterday.
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