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CBS

CBS

$52.87

-0.28 (-0.53%)

, VIAB

Viacom

$29.08

-0.01 (-0.03%)

08:00
08/07/18
08/07
08:00
08/07/18
08:00

CBS downgraded to Hold at Argus

As reported earlier, Argus analyst Joseph Bonner downgraded CBS (CBS) to Hold, noting significant downside risks for the company from both the sexual harassment allegations against CEO Moonves and the board's attempts to prevent the Viacom (VIAB) merger. Bonner notes that if the Moonves allegations are proven true, he would be immediately dismissed, which could end the board's bid to remain independent and thereby inflict damage on the shareholders. As part of his research note discussing the "mounting risks", Bonner also lowers his CBS FY18 EPS estimate to $5.25 from $5.29.

CBS

CBS

$52.87

-0.28 (-0.53%)

VIAB

Viacom

$29.08

-0.01 (-0.03%)

  • 09

    Aug

  • 09

    Aug

  • 06

    Sep

  • 27

    Sep

CBS CBS
$52.87

-0.28 (-0.53%)

08/03/18
JPMS
08/03/18
NO CHANGE
Target $75
JPMS
Overweight
CBS fundamentals are 'clearly not the issue,' says JPMorgan
Fundamentals are "clearly not the issue" for CBS (CBS) shares as the company continues to deliver or exceed expectations on comp growth, content sales, and over-the-top offerings, JPMorgan analyst Alexia Quadrani tells investors in a post-earnings research note titled "Another Beat and Favorable Outlook But That is Not the Near-Term Story." Unfortunately, the near term focus will remain on potential management changes, a court battle to determine who really controls the strategic direction of the company and how well CBS is positioned longer-term as a standalone or combined with Viacom (VIAB), the analyst adds. As such, the analyst sees CBS shares as range-bound in the near-term. However, over the longer-term, Quadrani believes "it is hard to ignore the obvious disconnect between valuation and the ongoing healthy earnings growth profile for the next few years." She reiterates an Overweight rating on CBS with a $75 price target.
08/03/18
BNCH
08/03/18
NO CHANGE
Target $90
BNCH
Buy
CBS has 'plenty' of intrinsic value despite legal trouble, says Benchmark
Benchmark analyst Daniel Kurnos acknowledges that CBS shares are "difficult to buy" ahead of a resolution of the impending legal challenges at both the executive and board levels, but he also sees "plenty" of intrinsic fundamental value. The company reported solid fundamental results again while also accelerating its 8M All Access subscriber forecast by a year and establishing a 16M sub forecast for its OTT service by 2022, said Kurnos. The analyst, who also noted that over 60% of revenue now comes from non-advertising sources, has a Buy rating and $90 price target on CBS shares.
08/06/18
LOOP
08/06/18
NO CHANGE
Target $33
LOOP
Hold
Viacom affiliate revenue to come down, says Loop Capital
Loop Capital analyst Alan Gould kept his Hold rating and $33 price target on Viacom (VIAB) ahead of its Q3 results but lowered his EPS estimate by 5c to $1.05 and his FY19 EPS view to $4.50 from $4.75. The analyst cites a more cautious outlook on future affiliate negotiations and a reduced TV revenue with no major affiliate renewal deals expected until the second half of 2019. Though Gould notes that valuation on the stock is inexpensive, he also expects any potential CBS (CBS) tie-up not to yield a premium paid by either side.
08/07/18
ARGS
08/07/18
DOWNGRADE
ARGS
Hold
CBS downgraded to Hold from Buy at Argus
VIAB Viacom
$29.08

-0.01 (-0.03%)

07/10/18
FBCO
07/10/18
INITIATION
Target $33
FBCO
Neutral
Viacom initiated with a Neutral at Credit Suisse
Credit Suisse analyst Dog Mitchelson initiated Viacom with a Neutral rating and a price target of $33. The analyst notes that the early success with Paramount and MTV turnaround is encouraging, but sees "cord shaving" continue to pressure subscriber levels in the short term. The analyst adds that while the asset value support for Viacom is "terrific", chairman Redstone is unlikely to approve a sale. Mitchelson believes the upside in the stock is possible if U.S. revenue can return to the kind of growth that management outlined for FY19.
07/31/18
07/31/18
DOWNGRADE
Target $50

Market Perform
Cowen worried about 'unquantifiable variables,' downgrades CBS to Market Perform
As previously reported, Cowen analyst Doug Creutz downgraded CBS (CBS) to Market Perform from Outperform, stating that the combination of the legal fight with National Amusements, the potential for a recombination with Viacom (VIAB) and the allegations of sexual harassment against CEO Les Moonves create "too many unquantifiable variables." He noted that his downgrade is not based on any evaluation of the claims made against Moonves, but reflects the added overhang of an investigation of uncertain length with an uncertain outcome, which Creutz sees making share outperformance difficult. He lowered his price target on CBS shares to $50 from $69.

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SYBT

S.Y. Bancorp

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TGT

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RNSDF

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SYN

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  • 02

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OIBR

Oi S.A.

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GLOB

Globant

$50.46

-1 (-1.94%)

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CATO

Cato Corp.

$16.39

-0.26 (-1.56%)

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WEX

Wex

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GS

Goldman Sachs

$191.34

-6.825 (-3.44%)

07:01
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Downgrade
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HYMTF

Hyundai Motor

$0.00

(0.00%)

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U.S. prosecutors probe Hyundai, Kia vehicle recalls, Reuters reports »

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Treasury Market Outlook: »

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GLOB

Globant

$50.46

-1 (-1.94%)

06:59
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Conference/Events
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WYNN

Wynn Resorts

$100.98

-2.49 (-2.41%)

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  • 28

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EMITF

Elbit Imaging

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EADSY

Airbus

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XHR

Xenia Hotels

$19.99

0.08 (0.40%)

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  • 28

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DE

Deere

$138.49

-4.04 (-2.83%)

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BBY

Best Buy

$63.54

1.35 (2.17%)

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  • 05

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EADSY

Airbus

$0.00

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, IFNNY

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FNKO

Funko

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ENTG

Entegris

$27.29

1.09 (4.16%)

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  • 27

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