Notable Reporting: What’s CBS Corporation Upside After Touching 52-Week High?

Notable Reporting: What's CBS Corporation Upside After Touching 52 Week High?

The stock of CBS Corporation (NYSE:CBS) hit a new 52-week high and has $99.19 target or 66.00% above today’s $59.75 share price. The 8 months bullish chart indicates low risk for the $28.22B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $99.19 price target is reached, the company will be worth $18.63 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.68 million shares traded hands. CBS Corporation (NYSE:CBS) has risen 10.19% since April 15, 2016 and is uptrending. It has outperformed by 5.56% the S&P500.

CBS Corporation (NYSE:CBS) Ratings Coverage

Out of 20 analysts covering CBS Corp (NYSE:CBS), 16 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 80% are positive. $75 is the highest target while $49 is the lowest. The $60.05 average target is 0.50% above today’s ($59.75) stock price. CBS Corp has been the topic of 44 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Tuesday, September 6 by Drexel Hamilton. Wells Fargo upgraded CBS Corporation (NYSE:CBS) on Wednesday, March 9 to “Outperform” rating. The firm has “Outperform” rating given on Friday, February 5 by Telsey Advisory Group. The firm has “Hold” rating given on Sunday, August 16 by Barclays Capital. Deutsche Bank upgraded CBS Corporation (NYSE:CBS) on Thursday, September 10 to “Buy” rating. The company was maintained on Monday, August 10 by Barrington Research. On Thursday, August 6 the stock rating was maintained by Cowen & Co with “Buy”. The stock of CBS Corporation (NYSE:CBS) has “Market Perform” rating given on Tuesday, August 18 by Wells Fargo. Stifel Nicolaus maintained CBS Corporation (NYSE:CBS) rating on Wednesday, March 16. Stifel Nicolaus has “Buy” rating and $60 price target. Telsey Advisory Group maintained CBS Corporation (NYSE:CBS) rating on Friday, May 20. Telsey Advisory Group has “Outperform” rating and $67 price target.

According to Zacks Investment Research, “CBS Corporation is a mass media company that creates and distributes industry-leading content to audiences worldwide. CBS has businesses with origins that date back to the beginnings of broadcast as well as new ventures that operate on media’s leading edge. It owns the most-watched television network in the U.S. and one of the world’s largest entertainment libraries. CBS’s operations span nearly every field of media and entertainment, including cable, publishing, radio, TV, film, outdoor advertising, and interactive and socially responsible media. Its businesses include CBS Television Network, The CW (owned by CBS Corporation and Warner Bros. Entertainment), Showtime Networks, CBS Sports Network, Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio, CBS Outdoor, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, CBS Consumer Products, CBS Home Entertainment, CBS Films and CBS EcoMedia. For more information, go to www.cbscorporation.com.”

Insitutional Activity: The institutional sentiment increased to 0.89 in 2016 Q2. Its up 0.02, from 0.87 in 2016Q1. The ratio improved, as 50 funds sold all CBS Corporation shares owned while 234 reduced positions. 52 funds bought stakes while 201 increased positions. They now own 282.48 million shares or 8.70% less from 309.41 million shares in 2016Q1.
Amalgamated Bankshares reported 36,306 shares or 0.11% of all its holdings. Mesirow Fincl Investment holds 0.05% of its portfolio in CBS Corporation (NYSE:CBS) for 15,542 shares. Wfg Advsr Lp owns 238 shares or 0% of their US portfolio. Rh Dinel Invest Counsel, a California-based fund reported 4,257 shares. Hartford Comm accumulated 99,951 shares or 0.11% of the stock. First New York Ltd Ny has invested 0% of its portfolio in CBS Corporation (NYSE:CBS). Verition Fund Mgmt last reported 4,187 shares in the company. Hutchin Hill Cap Ltd Partnership holds 56,300 shares or 0.1% of its portfolio. Gam Hldg Ag last reported 54,181 shares in the company. The New York-based Hoplite Capital Mgmt L P has invested 1.34% in CBS Corporation (NYSE:CBS). Moreover, Assetmark has 0% invested in CBS Corporation (NYSE:CBS) for 9 shares. Bp Public Limited Company holds 0.12% or 54,000 shares in its portfolio. Moreover, Tci Wealth Advisors Inc has 0.1% invested in CBS Corporation (NYSE:CBS) for 3,322 shares. Millennium Management Limited Liability Company holds 0.22% of its portfolio in CBS Corporation (NYSE:CBS) for 1.78M shares. Allstate has 0.04% invested in the company for 12,562 shares.

Insider Transactions: Since May 18, 2016, the stock had 0 buys, and 9 sales for $5.03 million net activity. The insider Goldberg Leonard sold 1,698 shares worth $87,909. Ambrosio Anthony G sold $466,279 worth of stock. CALIFANO JOSEPH A had sold 5,093 shares worth $266,151.

Another recent and important CBS Corporation (NYSE:CBS) news was published by Prnewswire.com which published an article titled: “CBS Corporation Reports Third Quarter 2016 Results” on November 03, 2016.

CBS Company Profile

CBS Corporation, incorporated on November 10, 1986, is a mass media company. The Firm operates through divisions, including Entertainment, Cable Networks, Publishing and Local Broadcasting. The Firm operates businesses, which span the media and entertainment industries, including the CBS Television Network, cable networks, content production and distribution, television and radio stations, Internet businesses, and consumer publishing.

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