Goldman Sachs Reinstates CBS Outdoor Americas Inc. (CBSO) at Neutral

Goldman Sachs reinstated coverage on CBS Outdoor Americas Inc. (NYSE: CBSO) with a Neutral rating and a price target of $31.

Analyst Drew Borst said, "Including the 3% yield from a one-time E&P cash dividend and the 5% yield from its recurring quarterly dividend, we estimate a 12-month total return potential of 13%. We increase our 2014/15/16 AFFO per share estimates by 1% on average to $2.02/$2.61/$2.84 to reflect (1) the Van Wagner acquisition (closed October 1), offset by (2) lower revenue growth, reflecting CBSO’s recently reduced 3Q revenue guidance to flat from low-single-digit (announced on September 10), and a reduced outlook for out-of-home (OOH) in the face of industrywide advertising pressure."

For an analyst ratings summary and ratings history on CBS Outdoor Americas Inc. click here. For more ratings news on CBS Outdoor Americas Inc. click here.

Shares of CBS Outdoor Americas Inc. closed at $30.02 yesterday.

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