Merrill Lynch Initiates Coverage Of CBS With a 'Buy' Rating

  • January 10, 2006
Predicting that 2006 will be a strong year for its TV operations, Wall Street securities firm Merrill Lynch initiated coverage for CBS Corp. with a "Buy" rating and a $33 share price objective. "CBS is well positioned to benefit from a television market recovery in 2006 and the strong management team will deliver on its promise to improve levered returns for equity holders, in our opinion," wrote Merrill Lynch's Jessica Reif Cohen. -- Joe Mandese
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