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CBS

CBS

$55.11

-0.13 (-0.24%)

, VIA

Viacom

$40.34

-0.1 (-0.25%)

18:10
10/16/16
10/16
18:10
10/16/16
18:10

CBS set to hire banks to assist with merger evaluation, Bloomberg says

CBS (CBS) is close to hiring Goldman Sachs and JPMorgan to help evaluate a potential merger with Viacom (VIA), Bloomberg reported Friday, citing sources. Reference Link

CBS

CBS

$55.11

-0.13 (-0.24%)

VIA

Viacom

$40.34

-0.1 (-0.25%)

VIAB

Viacom

$36.00

0.18 (0.50%)

  • 09

    Nov

CBS CBS
$55.11

-0.13 (-0.24%)

10/04/16
UBSW
10/04/16
UPGRADE
Target $66
UBSW
Buy
CBS upgraded to Buy at UBS
As reported previously, UBS analyst Doug Mitchelson upgraded CBS (CBS) to Buy from Sell. The analyst sees any deal with Viacom (VIA) as priced into CBS shares already. He also has increased confidence in consensus estimates for CBS and sees further upside if the national TV ad market and CBS' ratings remain strong. Mitchelson raised his price target to $66 from $52 on CBS shares.
10/04/16
10/04/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. CBS (CBS) upgraded to Buy from Sell at UBS with analyst Doug Mitchelson saying he sees any deal with Viacom (VIA) as priced into CBS shares already. He also has increased confidence in consensus estimates for CBS and sees further upside if the national TV ad market and CBS' ratings remain strong. 2. Pandora (P) upgraded to Conviction Buy from Buy at Goldman with analyst Heath Terry saying he sees significant upside to out-year estimates from premium radio and on-demand subscriptions. He expects competition to ease as new entrants slow and existing providers focus on profitability and limit "free" models. 3. Las Vegas Sands (LVS) upgraded to Buy from Neutral at BofA/Merrill with analyst Shaun Kelley saying shares remain fairly under-owned and thinks estimate revisions will move higher due to market momentum, better ROI for Parisian, Cotai infrastructure additions, and optionality from Japan and real estate. 4. KBR (KBR) upgraded to Buy from Hold at Deutsche Bank with analyst Chad Dillard saying yesterday's 10% post-guidance cut selloff is overdone and backward-looking. 5. West Marine (WMAR) upgraded to Buy from Neutral at B. Riley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/13/16
WELS
10/13/16
UPGRADE
WELS
Market Perform
Viacom upgraded to Market Perform from Underperform at Wells Fargo
Wells Fargo analyst Marci Ryvicker upgraded Viacom (VIAB) to Market Perform saying she believes shares are close to a floor. A merger with CBS (CBS) does not appear imminent, but if/when it does happen, CBS is unlikely to pay less than $32-$33 per Viacom share in a take-under, Ryvicker tells investors in a research note. The analyst has a $33-$35 price target range for Viacom shares. Ryvicker says that she still "REALLY" likes CBS and is cautious on CBS and Disney (DIS) into the Q3 earnings season.
10/14/16
RBCM
10/14/16
NO CHANGE
RBCM
CBS outlook positive says RBC Capital
RBC Capital analyst Steven Cahall expects CBS (CBS) to report "squeaky clean" Q3 results that includes a 1c EPS beat. The analyst is upbeat on a potential acquisition of Viacom (VIAB) by CBS, saying that the recent decline in Viacom's stock would improve accretion to CBS shareholders.
VIA Viacom
$40.34

-0.1 (-0.25%)

09/22/16
TLSY
09/22/16
DOWNGRADE
TLSY
Market Perform
CBS downgraded on likely Viacom merger at Telsey Advisory
As noted earlier, Telsey downgraded CBS (CBS) to Market Perform from Outperform. Analyst Tom Eagan says that CBS will probably merge with Viacom (VIA, VIAB). The analyst believes that it will take "years" for Viacom to be turned around, and he says that Viacom's fiscal 2017 EBITDA will come in 18% below its fiscal 2015 level. The analyst expects the company's credit rating to be downgraded by S&P. CBS target to $57 from $67.
10/13/16
10/13/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Merck (MRK) upgraded to Buy from Neutral at BofA/Merrill with analyst Colin Bristow citing its opportunity in first line lung cancer. 2. Viacom (VIA, VIAB) upgraded to Market Perform from Underperform at Wells Fargo and to Buy from Underperform at BofA/Merrill. 3. TD Ameritrade (AMTD) and Charles Schwab (SCHW) were upgraded to Buy from Neutral at BofA/Merrill. 4. Talend (TLND) upgraded to Buy from Neutral at Goldman with analyst Jesse Hulsing saying the company will benefit from analytic workloads moving to the cloud. 5. CSC (CSC) upgraded to Buy from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
VIAB Viacom
$36.00

0.18 (0.50%)

10/13/16
BOFA
10/13/16
UPGRADE
BOFA
Buy
Viacom upgraded to Buy from Underperform at BofA/Merrill
BofA/Merrill analyst Jessica Reif Cohen upgraded Viacom (VIAB) two notches to Buy from Underperform and raised its price target to $44 from $37. The analyst views risk/reward as favorable given a potential turnaround by a new management team, which is almost certain. Cohen said Viacom appears closer to a strategy shift that includes re-programming, re-branding, aggressively extending content into digital outlets, and restoring Paramount to growth and profitability. The analyst expects shares to start pricing in a more robust potential as a standalone entity, or a combination with CBS (CBS).

TODAY'S FREE FLY STORIES

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T

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LL

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QCOM

Qualcomm

$53.21

0.17 (0.32%)

, AAPL

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$143.79

0.11 (0.08%)

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Qualcomm, Apple analyst commentary  »

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SPY

SPDR S&P 500 ETF Trust

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HYG

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XLP

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VNQ

Vanguard REIT Index Fund

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CPN

Calpine

$10.00

0.41 (4.28%)

13:31
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Options
Calpine calls active after earnings »

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13:30
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NY Fed accepted $181.98 B in daily reverse repos »

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ALDR

Alder Biopharmaceuticals

$21.35

-0.8 (-3.61%)

13:25
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  • 06

    Jun

OCN

Ocwen

$2.26

0.03 (1.35%)

13:22
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CFPB was seeking Ocwen settlement in $50M range, IMF reports »

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  • 03

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BCEI

Bonanza Creek

$0.79

0.0099 (1.27%)

13:21
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$NSD

NASDAQ Market Internals

13:17
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$NYE

NYSE Market Internals

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SAN

Banco Santander

$6.53

0.08 (1.24%)

13:16
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Options
Banco Santander put volume heavy and directionally bearish »

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13:15
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BCEI

Bonanza Creek

$0.79

0.0099 (1.27%)

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13:06
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MSI

Motorola Solutions

$85.88

-0.19 (-0.22%)

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BCEI

Bonanza Creek

$0.79

0.0049 (0.63%)

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BHI

Baker Hughes

$59.34

-0.31 (-0.52%)

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HBP

Huttig Building Products

$9.03

0.28 (3.20%)

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HNHPF

Hon Hai Precision

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IEF

iShares 7-10 Year Treasury Bond ETF

$106.48

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CPN

Calpine

$9.95

0.3599 (3.75%)

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12:45
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