UPDATE: Goldman Sachs Raises Price Target on CBS to $26

According to Goldman Sachs, CBS (NYSE: CBS) price target is raised to $26.

Goldman Sachs said that CBS reported 3Q EPS of $0.50, exceeding GS/consensus estimates of $0.43/$0.46. “We increase our 2011/12/13E EPS to $1.87/$2.20/$2.49, up from $1.80/$2.10/$2.39, to reflect the 3Q beat and higher Entertainment margins.”

CBS closed yesterday at $24.52.