CBS Corp’s Target Raised at Pivotal Research; Sees Strong Earnings Growth in 2013 (CBS)

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Mass media giant CBS Corporation ( CBS ) on Tuesday caught some continued bullish commentary from analysts at Pivotal Research.

The firm reiterated its "Buy" rating on CBS and lifted its price target from $39 to $43. That new target suggests an 18% upside to the stock's Friday closing price of $36.34.

A Pivotal Research analyst commented, "We continue to view CBS in a very favorable light, as its valuation is supported by factors, including: Strong underlying asset values (especially under scenarios involving divestiture of the company's radio and outdoor divisions); Continuous margin improvement and cash flow generation; and Rising earnings (which we expect to be up 12% in 2013) and EPS (which should rise by 18% in 2013) favorably impacted by the company's stock buyback all contribute to support this valuation."

CBS shares were mostly flat in premarket trading Tuesday.

The Bottom Line
Shares of CBS Corporation ( CBS ) have a 1.32% dividend yield, based on Friday's closing stock price of $36.34. The stock has technical support in the $33-$34 price area. The shares are trading near all-time highs.

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 The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: CBS

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