BMO Capital Starts CBS (CBS) at Outperform

BMO Capital initiated coverage on CBS (NYSE: CBS) with a Outperform rating and a price target of $54.00. Analyst Daniel Salmon said he sees a mix-shift opportunity.

"We believe the company offers the best long-term mix-shift opportunity in media, adding recurring revenues to augment a premium advertising platform. This creates greater revenue stability and improves the long-term margin opportunity, both of which support multiple expansion as the mix shift takes place. In the near term, divestiture of the advertising-only Outdoor business is the primary driver of this trend," said Salmon.

For an analyst ratings summary and ratings history on CBS (NYSE: CBS) click here. For more ratings news on CBS click here.

Shares of CBS closed at $47.75 yesterday.

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