CBS Corp () Given New $63.00 Price Target at Morgan Stanley (CBS)
Analysts at Morgan Stanley raised their target price on shares of CBS Corp () (NYSE:CBS) to $63.00 in a research report issued to clients and investors on Wednesday, American Banking & Market News reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 12.36% from the company’s current price.
A number of other analysts have also recently weighed in on CBS. Analysts at ISI Group initiated coverage on shares of CBS Corp () (NYSE:CBS) in a research note to investors on Tuesday, September 10th. They set a “buy” rating and a $61.00 price target on the stock. Separately, analysts at Piper Jaffray Cos. set a $65.00 price target on shares of CBS Corp () (NYSE:CBS) in a research note to investors on Wednesday, September 4th. Finally, analysts at Atlantic Securities upgraded shares of CBS Corp () (NYSE:CBS) from a “neutral” rating to an “overweight” rating in a research note to investors on Wednesday, September 4th. They now have a $64.00 price target on the stock, up previously from $53.00.
Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. CBS Corp () has a consensus rating of “Buy” and an average target price of $57.88.
Shares of CBS Corp (NYSE:CBS) traded down 0.98% on Wednesday, hitting $55.52. The stock had a trading volume of 3,831,378 shares. CBS Corp has a 52 week low of $31.84 and a 52 week high of $57.47. The stock’s 50-day moving average is $53.69 and its 200-day moving average is $49.87. The company has a market cap of $33.579 billion and a P/E ratio of 21.15.
CBS Corp () (NYSE:CBS) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.72 by $0.04. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the company posted $0.65 earnings per share. CBS Corp ()’s revenue was up 11.1% compared to the same quarter last year. Analysts expect that CBS Corp will post $3.10 EPS for the current fiscal year.
CBS Corporation is a mass media company. The Company has operations in segments, which include Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor.
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