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Fly News Breaks for October 12, 2015
CBS
Oct 12, 2015 | 08:47 EDT
RBC Capital reduced its Q3 EPS estimate for CBS to 81c from 86c due to increased programming costs and lower syndication margins. However, the firm thinks that investors are already pricing in another estimate cut, while the sell-off in the stock has been overdone, given the company's ability to perform well even as bundling unravels. It views the stock's valuation as "compelling" and keeps a $64 price target and Top Pick rating on the shares.
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