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How Disney's Video Streaming Services Could Affect Media Sector

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Part 13
How Disney's Video Streaming Services Could Affect Media Sector PART 13 OF 13

Did Wall Street Reward CBS’s Sports Streaming Service Move?

CBS’s stock price movement

CBS’s (CBS) stock price closed at $66.71 on August 11. The company’s stock price has risen 4.8% since August 7, the day the company announced its fiscal 2Q17 results and announced its CBS Sports video streaming service.

The company’s stock price has risen 4.8% year-to-date. In contrast, 21st Century Fox (FOXA) and Comcast (CMCSA) have seen their stock prices rise 0.6% and 19.1%, respectively, year-to-date. However, the Walt Disney Company (DIS) has seen its stock price fall 2.1% year-to-date on the back of its disappointing fiscal 3Q17 results. CBS is currently trading above its moving averages. The stock is currently trading 2.6%, 4.2%, and 1.1% above its 100-day, 50-day, and 20-day moving averages of $65, $64, and $66, respectively.

Did Wall Street Reward CBS’s Sports Streaming Service Move?

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Analysts’ recommendations for CBS

Currently, out of 34 analysts covering CBS, 25 analysts are bullish on the stock and rated it a “buy,” while nine analysts have rated the stock a “hold.” There weren’t any “sell” recommendations for the stock.

Analysts have set a target price of $74.45 for the stock and a consensus median target price estimate of $76.00 for the stock. Currently, CBS is trading at a discount of 12.2% to its median target stock price.

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