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CBS a top pick at J.P. Morgan for 2017

Dec. 07, 2016 11:43 AM ETParamount Global (PARA) StockPARABy: Eric McCaffrey, SA News Editor2 Comments
  • Analyst Alexia Quadrani reissues an Overweight position on CBS (CBS +1.6%), noting potential for greater earnings growth relative to rest of media industry, steady pace for increases in underlying network advertising, 1M subscriptions at All Access (and projected higher) and Showtime over-the-top, generation of record political broadcast revenues, and retransmission and reverse compensation revenues that appear set to move higher (estimates possible surpassing of $2.5B target in 2020).
  • Previously (November 23): CBS downgraded to Market Perform at BMO Capital Markets

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