UPDATE: Wedbush Lowers Price Target on CBS to $28

By Steven Anfield
Benzinga Staff Writer
November 21, 2011 8:48 AM

Symbols: CBS

Posted in: Analyst Color, Price Target, Analyst Ratings

According to Wedbush, CBS (NYSE: CBS) price target is lowered to $28.

Wedbush said that it reduces its advertising growth forecasts based on lower U.S. industry growth assumptions, resulting in 2012 estimates below the Street by 2% on OIBDA and 3% on EPS. “We reduce our 12-month price target to $28 from $30 on our lower estimates.”

CBS closed on Friday at $24.48.

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UPDATE: Wedbush Lowers Price Target on CBS to $28

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