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CBS

CBS

$56.54

-0.07 (-0.12%)

19:19
09/25/18
09/25
19:19
09/25/18
19:19

CBS names Richard Parsons interim chairman

Richard Parsons has been named CBS Corporation's interim chairman of the board of directors, the company announced. The board unanimously approved the appointment, which was recommended by the Board's Nominating and Governance Committee. The company also announced that Bruce Gordon and William Cohen, who have served on the board of directors since CBS became a stand-alone public company in 2006, have decided to step down from their posts to focus on other personal and professional priorities.

  • 27

    Sep

CBS CBS
$56.54

-0.07 (-0.12%)

09/11/18
BNCH
09/11/18
NO CHANGE
Target $90
BNCH
Buy
Return of focus to fundamentals should benefit CBS shares, says Benchmark
Benchmark analyst Daniel Kurnos said that despite the fact that the departure of Les Moonves "casts several longer-term shadows over" CBS, he believes a refocus on the fundamentals over the next 24 months should benefit the shares. The analyst, who cites a strong, tight scatter market, healthy sub growth, a record show library and a expectations for record political spending, maintains a Buy rating and $90 price target on CBS shares.
09/11/18
09/11/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. CBS (CBS) downgraded to Neutral from Buy at UBS with analyst John Hodulik saying uncertainty around the management transition limits upside in the shares and could last for an extended period. 2. Tesla (TSLA) downgraded to Neutral from Buy at Nomura Instinet with analyst Romit Shah expressing concern that the "erratic behavior" of CEO Elon Musk will taint the Tesla brand. 3. Johnson Controls (JCI) downgraded to Neutral from Buy at UBS with analyst Steven Winoker saying while the company's Buildings business is improving in 2018, the pace and magnitude of the progress is proving slower and lower than expectations. 4. Wingstop (WING) downgraded to Neutral from Buy at Goldman Sachs with analyst Karen Holthouse saying she continues to view the company's comps and unit growth fundamentals favorably but she recommends taking profits at current share levels. 5. AAR Corp. (AIR) downgraded to Hold from Buy at SunTrust with analyst Michael Ciarmoli saying he is maintaining a bullish view on the aero aftermarket with an opportunity for AAR Corp to exploit its position while also reaping benefits from its INL Global Aviation Support Services contract, but he also believes that the company's near-term growth will come under pressure from its maintenance, repair, and overhaul, or MRO, segment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/18
09/11/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. TESLA, CBS DOWNGRADED ON MANAGEMENT CONCERNS: Nomura Instinet analyst Romit Shah downgraded Tesla (TSLA) to Neutral from Buy and cut his price target for the shares to $300 from $400. Shah expressed concern that the "erratic behavior" of CEO Elon Musk will taint the Tesla brand. Shah, who admits to being one of the most bullish analysts on Wall Street since initiating the stock in October of 2017, still believes Tesla could grow to be a much larger company. The analyst, however, prefers to move to the sidelines pending potential changes in management. UBS analyst John Hodulik downgraded CBS Corporation (CBS) to Neutral from Buy and lowered his price target for the shares to $60 from $72. Uncertainty around the management transition limits upside in the shares and could last for an extended period, Hodulik said. The analyst said that while interim CEO Joseph Ianniello has a strong track record as COO, he does not expect him to be appointed as the permanent replacement since controlling shareholder National Amusements noted in court filings that it does not see him as a potential successor to Les Moonves. In late morning trading, Tesla is down 3.6%, while CBS is down almost 1%. CANACCORD UPGRADES NIKE TO BUY: Canaccord analyst Camilo Lyon upgraded Nike (NKE) to Buy from Hold. The analyst believes Nike has regained its footing and is marching back to form following two years of a soft product cycle, margin compression, and market share declines. He cited newly introduced platforms coupled with forthcoming innovations as catalysts to sustain earnings growth. Lyon raised his price target to $95 from $78 on Nike shares. ROSENBLATT BOOSTS AMD PRICE TARGET: Rosenblatt analyst Hans Mosesmann raised Buy rated AMD's price target to $40 from $30 citing a faster ramp in 7nm GPU compute. Mosesmann said AMD's move over the past several quarters reminds him of the setup Nvidia (NVDA) experienced almost three years ago when it transformed from a PC graphics play to a "compute powerhouse." GOLDMAN UPGRADES DARDEN, CUTS WINGSTOP: Goldman Sachs analyst Karen Holthouse did a ratings restack in Americas Restaurants, which included upgrading Darden Restaurants (DRI) to Buy from Neutral, upgrading Bloomin' Brands (BLMN) to Neutral from Sell, and downgrading Wingstop (WING) to Sell from Neutral.
09/18/18
IMPC
09/18/18
NO CHANGE
Target $71
IMPC
Outperform
Market ignoring fundamental catalysts for CBS, says Imperial Capital
Imperial Capital analyst David Miller says he has increased conviction in shares of CBS following a call with interim CEO Joe Ianiello. The market is focusing "way too much" on the management changes as well as prospects of a re-merger with Viacom (VIAB), and ignoring all the fundamental catalysts central to CBS, "of which there are many," Miller tells investors in a research note. These include a "political advertising windfall" in Q4, CBS' broadcast of the Superbowl on February 3, 2019, and higher rate card growth for retransmission consent for approximately 75% of CBS' owned and operated station economics over the next two fiscal years, Miller contends. He keeps an Outperform rating on CBS with a $71 price target.

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$25.52

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$120.52

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