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Fly News Breaks for September 18, 2015
CBS
Sep 18, 2015 | 05:32 EDT
Piper Jaffray analyst James Marsh views the recent pullback in shares of CBS as overdone. The company is "relatively insulated" from new bundling trends and cord cutting, Marsh tells investors in a research note. The analyst cut his price target for the stock to $60 from $75 after revising his long-term margin assumptions, but expects retrans fees renegotiations, political advertising, Super Bowl 50 and new over-the-top platforms to reaccelerate growth at CBS over the next two years. Marsh reiterates an Overweight rating on the name.
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