Benchmark Co. Maintains a Buy Rating on CBS Corp (CBS)


In a report released today, Daniel Kurnos from Benchmark Co. maintained a Buy rating on CBS Corp (NYSE: CBS), with a price target of $90. The company’s shares closed yesterday at $52.72.

Kurnos wrote:

“We acknowledge that shares are difficult to buy ahead of a resolution of the impending legal challenges at both the executive and Board levels but also find it difficult to believe there isn’t significantly more intrinsic fundamental value in the leading content provider, with an increasing portion of revenue falling into a recurring/subscription category, that trades at just 7x 2019E EV/OIBDA.”

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 11.9% and a 53.8% success rate. Kurnos covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment Inc, Booking Holdings Inc, and Sinclair Broadcast.

Currently, the analyst consensus on CBS Corp is a Moderate Buy with an average price target of $65.15, a 23.6% upside from current levels. In a report issued on July 23, Barrington also maintained a Buy rating on the stock with a $73 price target.

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Based on CBS Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.76 billion and net profit of $511 million. In comparison, last year the company earned revenue of $3.26 billion and had a net profit of $58 million.

Based on the recent corporate insider activity of 94 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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