Barrington Sticks to Its Buy Rating for CBS Corp (CBS)


In a report released today, James Goss from Barrington maintained a Buy rating on CBS Corp (NYSE: CBS), with a price target of $73. The company’s shares opened today at $56.23.

Goss commented:

“We are confident in Mr. Ianniello’s capability to direct the operations of CBS. He has been a close partner of Mr. Moonves and actively involved in all of the key initiatives that have defined CBS in recent years. Mr. Moonves and Mr. Ianniello are both strong and decisive personalities with exceptional drive and motivation. Mr. Moonves also has had a reputation as having exceptional creative skills and instincts. Together, they outlined a multi‐year strategy at an Investor Day a few years ago that continues to be the CBS playbook. Mr. Ianniello is a long‐ tenured member of management and has a highly accomplished track record as COO and CFO of CBS. During this period, the company has transformed its revenue mix, reducing its ad related volatility while growing its stable retransmission and syndication revenues.”

According to TipRanks.com, Goss is a 5-star analyst with an average return of 14.6% and a 72.7% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, Sirius XM Holdings Inc, and iPic Entertainment Inc.

Currently, the analyst consensus on CBS Corp is a Moderate Buy with an average price target of $65.91, which is a 17.2% upside from current levels. 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.

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