CBS Corp’s Target, Estimates Boosted at Morgan Stanley (CBS)


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Entertainment giant CBS Corporation ( CBS ) on Wednesday saw its price target and earnings estimates upped by analysts at Morgan Stanley.

The firm said it now expects CBS shares to reach $28, which suggests a 12% upside to the stock's Monday closing price of $25.03. Morgan Stanley also raised its earnings estimates for the company and maintained its "Overweight" rating, citing higher realized margins.

CBS Corp shares were mostly flat in premarket trading Wednesday.

The Bottom Line
Shares of CBS Corp ( CBS ) have a .80% dividend yield, based on last night's closing stock price of $25.03. The stock has technical support in the $22 price area. If the shares can firm up, we see overhead resistance around the $30 price level.

CBS Corporation ( CBS ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks

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