Why Did CBS Corp. Just Get An Analyst Downgrade?

By on Nov, 28 2016 with Comments 0

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.

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About The Author: Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. From 1996 to 2006 he served as an editor at Radio & Records.

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