The Benchmark Company Stays Bullish on CBS; Political Advertising Looking Strong (CBS)

By Staff,

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Mass media giant CBS Corporation ( CBS ) on Tuesday received some continued bullish support from analysts at The Benchmark Company.

The firm reiterated its "Buy" rating on CBS and lifted its price target from $39 to $40. That new target suggests a 7% upside to the stock's Monday closing price of $37.24.

A Benchmark analyst commented "At a recent investor conference, CBS management stated that CBS television ad revenue growth accelerated in recent weeks, driven by political advertising. Network revenues have also been strong reflecting 2012 upfront pricing. It is too early to tell about the near term outlook for network advertising as scatter pacings are too small to be meaningful, but we expect a good market to develop in coming weeks."

CBS shares were mostly flat in premarket trading Tuesday.

The Bottom Line
Shares of CBS Corporation ( CBS ) have a 1.29% dividend yield, based on last night's closing stock price of $37.24. The stock has technical support in the $32-$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 Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: CBS

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