Why Did CBS Corp. Just Get An Analyst Downgrade?
There’s a new “pecking order” at BMO Capital Markets, and CBS Corp. is now behind a company AT&T is seeking to merge with, and an entity that it now recommends as a better choice, should “fundamental investing” remain the priority.
In a report sent to clients and investors on Wednesday (11/23), BMO downgraded CBS Corp. stock from “Outperform” to “Market Perform.”
The reason for BMO’s decision? Valuation, analyst Daniel Salmon explained.