B.Riley FBR analyst Barton Crockett maintained a Buy rating on CBS Corp (NYSE: CBS) today and set a price target of $61. The company’s shares opened today at $56.23.
Crockett said:
“On Sunday (Sept. 9) PM, CBS disclosed that CEO Les Moonves is gone, the CBS suit versus controlling shareholder National Amusements is settled, and much of the board of directors is swapped out, quickly moves past the worst near-term uncertainties. It also opens the door a crack to what we believe ultimately could be the best outcome—consideration of merger potential with other platform companies seeking deeper exposure to impactful content. In that way, we see the developments as helpful for not only CBS, but also Viacom, equities.”
According to TipRanks.com, Crockett is a 4-star analyst with an average return of 5.2% and a 56.1% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Lions Gate Ent Corp Cl A, and Qurate Retail Group Inc.
CBS Corp has an analyst consensus of Moderate Buy, with a price target consensus of $66.09, representing a 17.5% upside. In a report issued on August 27, BMO Capital also maintained a Buy rating on the stock with a $65 price target.
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The company has a one-year high of $61.59 and a one-year low of $47.54. Currently, CBS Corp has an average volume of 3.39M.
Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2018, Gil Schwartz, the Sr.EVP, Chief Commun. Officer of CBS sold 160,709 shares for a total of $8,851,852.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
CBS Corp. operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through following segments: Entertainment, Cable Networks, Publishing, and Local Media.
