Market Overview

UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on CBS Corporation on Announced REIT Conversion

Share:
Related CBS
The CW Reveals Spring Lineup; Adds 'Containment' And 'Reign' To Roster
Tullo: Pandora Has 70% Upside
CBS Corporation's (CBS) CEO Leslie Moonves on Q4 2015 Results - Earnings Call Transcript (Seeking Alpha)

In a report published Friday, Deutsche Bank reiterated its Buy rating on CBS Corporation (NYSE: CBS), and raised its price target from $47.00 to $50.00.

Deutsche Bank noted, “We see CBS shares as attractive at 12x ‘14E FCF (pre-REIT equity shrink). The announced REIT conversion for outdoor meaningfully enhances value, CBS viewership is heading towards stable levels Y/Y by the end of the season, and we believe retrans is not fully priced in (we see $1+b/yr by 2017, $2b/yr by 2020), while buybacks / dividends are a full 9% of equity this year ($2.5b total).”

CBS Corporation closed on Thursday at $42.94.

Latest Ratings for CBS

DateFirmActionFromTo
Feb 2016Telsey Advisory GroupInitiates Coverage onOutperform
Oct 2015BarclaysMaintainsEqualweight
Oct 2015Topeka CapitalMaintainsBuy

View More Analyst Ratings for CBS
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (CBS)

View Comments and Join the Discussion!

Get Benzinga's Newsletters