In a report released today, Barton Crockett from B.Riley FBR reiterated a Buy rating on CBS Corp (NYSE: CBS), with a price target of $61. The company’s shares opened today at $52.20.
Crockett noted:
“We view the 2Q18 earnings that CBS reported, post-close 8/2, as supporting the notion that CBS is handling the secular sucker punch (which has leveled sentiment towards TV stocks) well, better than peers, and solidly enough that it has a great argument to survive the sea change. When the sideshow drama dies down—and, someday, we believe it will—we see this helping the stock.”
According to TipRanks.com, Crockett is a 4-star analyst with an average return of 4.3% and a 53.3% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Qurate Retail Group Inc, and Sirius XM Holdings Inc.
CBS Corp has an analyst consensus of Moderate Buy, with a price target consensus of $65.23, a 25.0% 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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The company has a one-year high of $67.57 and a one-year low of $47.54. Currently, CBS Corp has an average volume of 3.88M.
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.
