UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on CBS Corporation on Expected High Earnings Growth

In a report published Monday, J.P. Morgan analyst Alexia S. Quadrani reiterated an Overweight rating on CBS Corporation

, and raised the price target from $50.00 to $52.00. In the report, Quadrani noted, “We reiterate our Overweight rating as we believe CBS is on track to deliver some of the highest earnings growth in our large cap media universe. CBS' highly valued content will likely continue to enhance core revenue growth through further syndication and digital sales. The company will garner an increasing amount of high-margin retransmissions and reverse compensation revenues, which should boost EPS nicely. Furthermore, the company will likely step-up its already sizeable share buyback program once the initiatives at Outdoor are implemented, further enhancing shareholder returns.” CBS Corporation closed on Friday at $45.20.