UPDATE: Barrington Research Raises Target to $41 on CBS
Barrington Research maintains its Outperform rating on CBS (NYSE: CBS) and raises its price target to $41, a higher level than the 2011-based target of $33. It reflects the company's boosted margin potential due to new revenue streams.
Barrington Research says, "The increasing strength of key elements including primetime ad revenues, content values and retransmission revenues all reinforce one another. The CBS Television Network continues to provide steady underpinnings for an investment story that is at once diverse yet with dynamics that symbiotically feed off of one another."
CBS closed at $29.59 a share on Friday.
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