Stifel Upgrades CBS On Multiple Positive Factors

In a report published Friday, Stifel analyst Benjamin Mogil upgraded the rating on

from Hold to Buy, and named a $65.00 price target. In the report, Stifel noted, “We are transferring coverage of CBS from our colleague Drew Crum to Ben Mogil and establishing a Buy rating and a $65 target price. We see CBS as well aligned on a number of fronts. Its NFL rights position the company well for increased reverse retransmission economics; Strong ratings and improving television production economics lower the company's effective production risk; OTT opportunities are strong on both the bundled and stand-alone channel front.” CBS closed on Thursday at $54.47.