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CBS

CBS

$54.33

0.52 (0.97%)

, VIAB

Viacom

$31.39

0.2 (0.64%)

07:34
10/15/18
10/15
07:34
10/15/18
07:34

CBS resumed with an Equal Weight at Morgan Stanley

Morgan Stanley analyst Benjamin Swinburne resumed coverage of CBS (CBS) with an Equal Weight rating and $65 price target, stating that he believes continued speculation around a Viacom (VIAB) transaction will prevent shares from reflecting the company's potential strategic value. However, he continues to believe that its assets, strategy and execution have "differentiated it from the pack," Swinburne tells investors. He also resumed coverage of Viacom with an Equal Weight rating.

CBS

CBS

$54.33

0.52 (0.97%)

VIAB

Viacom

$31.39

0.2 (0.64%)

VIA

Viacom

$34.46

-0.25 (-0.72%)

  • 01

    Nov

CBS CBS
$54.33

0.52 (0.97%)

09/26/18
RILY
09/26/18
UPGRADE
Target $39
RILY
Buy
Viacom upgraded to Buy from Neutral at B. Riley FBR
B.Riley/FBR analyst Barton Crockett upgraded Viacom (VIAB) to Buy with a $39 price target. The analyst also keeps a Buy rating on CBS (CBS) and raised his price target for the shares to $63 from $61.
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.
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.
09/11/18
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.
VIAB Viacom
$31.39

0.2 (0.64%)

09/26/18
09/26/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Viacom (VIAB) upgraded to Buy from Neutral at B. Riley FBR. 2. GoPro (GPRO) upgraded to Outperform from Perform at Oppenheimer with analyst Andrew Uerkwitz saying he believes the company has done everything it can to position itself for success. 3. STMicroelectronics (STM) upgraded to Buy from Hold at Deutsche Bank with analyst Johannes Schaller saying the stock has "suffered too much," setting up for an attractive risk/reward profile at current levels. 4. IBM (IBM) upgraded to Buy from Neutral at UBS with analyst John Roy saying the market is pricing in a 2% revenue decline, which IBM can beat. 5. Cheniere Energy (LNG) upgraded to Overweight from Equal Weight at Morgan Stanley and to Outperform from Market Perform at Cowen. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/20/18
09/20/18
UPGRADE

Outperform
Viacom upgraded to Outperform on growth, sub stabilization at Macquarie
As previously reported, Macquarie upgraded Viacom to Outperform from Neutral and a $37 price target. Analyst Tim Nollen thinks Viacom has made some impressive investments in data and technology that it can deploy to drive meaningful growth in targeted TV advertising, which can offset ad declines over the past few years. Viacom's OpenAP has created new ways to target audiences in the upfront market and its technology is producing gains on ads sold through programmatic means in the scatter market, Nollen wrote in a note to investors. Also, the analyst believes Viacom is making the right moves to establish better carriage terms with affiliates, which should stabilize subs, combined with a rebound at Paramount, should lead to revenue and EBITDA growth next year.
09/20/18
MACQ
09/20/18
UPGRADE
MACQ
Outperform
Viacom upgraded to Outperform from Neutral at Macquarie
VIA Viacom
$34.46

-0.25 (-0.72%)

09/10/18
BRRR
09/10/18
NO CHANGE
BRRR
CBS could be more attractive to technology company, says Barrington
Barrington analyst James Goss notes that the settlement between CBS (CBS) and National Amusements puts off the potential for a forced combination with Viacom (VIAB), which he feels has been an overhang on the stock for much of the past few years. Further, the departure of CEO Leslie Moonves ends an "extended period of turmoil that seemed headed toward this inevitable conclusion," Goss tells investors in a research note. The analyst reiterates an Outperform rating on CBS with a $73 price target. Goss finds it "quite possible" that CBS would be a more attractive takeover target for technology companies "that might like the business, but do not possess relevant management skills given the presence of a solid operating and financial executive like Joe Ianniello but the absence of an iconic presence like Les Moonves." He notes, however, that the terms requiring National Amusements having 30% voting power in the surviving entity "would need to be revised."
09/06/18
KEYB
09/06/18
NO CHANGE
KEYB
CBS/NAI settlement would likely be slight negative for Viacom, says KeyBanc
KeyBanc analyst Andy Hargreaves notes that several news outlets are reporting that CBS (CBS) and National Amusements are in settlement discussions that would, if completed, end the current litigation and end National Amusements' push to re-merge CBS with Viacom (VIAB) for a period of time. Although details are likely to be critical, the analyst would view this basic outline as a slight positive for CBS and a slight negative for Viacom. Absent a re-merger with CBS, Hargreaves believes a breakup and asset disposal would be the best path to maximize value at Viacom, which National Amusements has shown no interest in to date.

TODAY'S FREE FLY STORIES

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GLUU

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GLUU

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SEDG

SolarEdge

$89.14

0.19 (0.21%)

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SFIX

Stitch Fix

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BLMN

Bloomin' Brands

$18.15

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QIWI

Qiwi

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RLMD

Relmada Therapeutics

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GPN

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RETA

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FIS

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AKRX

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EHTH

eHealth

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