CBS Corp (CBS) Received its Third Buy in a Row


After Loop Capital Markets and Stephens gave CBS Corp (NYSE: CBS) a Buy rating last month, the company received another Buy, this time from Guggenheim. Analyst Michael Morris reiterated a Buy rating on CBS Corp yesterday and set a price target of $56. The company’s shares closed yesterday at $47.67.

According to TipRanks.com, Morris is a 4-star analyst with an average return of 8.5% and a 50.6% success rate. Morris covers the Services sector, focusing on stocks such as MSG Networks Inc, World Wrestling, and AMC Networks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CBS Corp with a $66.80 average price target, implying a 40.1% upside from current levels. In a report issued on December 27, Loop Capital Markets also maintained a Buy rating on the stock with a $59 price target.

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Based on CBS Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.26 billion and net profit of $488 million. In comparison, last year the company earned revenue of $3.92 billion and had a net profit of $53 million.

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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.