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.
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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.