UPDATE: Wedbush Raises CBS' PT

According to a research report published this morning, Wedbush has increased CBS'

PT from $33 to $35. In the report, Wedbush commented, "Raising 2012/13E EPS to $2.46/$2.80 from $2.40/$2.73, primarily on Showtime online licensing revenue and higher international syndication estimates. Higher entertainment and cable networks revenue and OIBDA estimates drive our consolidated changes, as well as flowing through a bit higher core TV network ad revenue than we estimated for 1Q." Wedbush maintains its Neutral rating on CBS, which is currently trading at $33.75.