Mass media giant CBS Corporation (
) 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
CBS shares were mostly flat in premarket trading Tuesday.
The Bottom Line
Shares of CBS Corporation (
) 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 (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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