Pivotal updates CBS model ahead of Q1 earnings

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CBSBrian Wieser, Senior Research Analyst, Pivotal Research Group, announced they are updating their CBS model and price target to $68, from $70 previously, maintaining a Buy rating. The Aereo Supreme Court case will be top-of-mind, said the notice, however, investor consensus is for a win by broadcasters, but “an uncertain outcome suggests less room to upside and more room to downside for CBS stock around the event. However, our price target recognizes that Aereo is unlikely to meaningfully impact CBS for the foreseeable future either way. Progress selling more ad inventory on C7 basis will be another key topic – a minor positive – around earnings.”

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