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Fly News Breaks for August 18, 2015
CBS
Aug 18, 2015 | 07:13 EDT
Wells Fargo downgraded CBS (CBS) to Market Perform with a $53-$55 price target range saying value is shifting from content to distribution. Wells also downgraded Disney (DIS) and 21st Century Fox (FOXA) this morning to Market Perform while cutting its Diversified Media sector view to Market Weight. Time Warner (TWX) remains its only Outperform-rated media stock. Shares of Disney closed yesterday up $1.88 to $109.05.
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