With a new FCC in place, some financial analysts are predicting an increase in dealmaking — at least on the TV side.
This mirrors what many media brokers have shared with RBR + TVBR readers.
With this in mind, The Street offers some picks as to which media stocks represent the best buys for investors.
At the top of the list: CBS Corp.
Stifel maintains a “buy” rating on the company, and while a reunification with Viacom was not to be, the firm believes CBS could make a big move in 2017 by offering to buy Sony Pictures.
Two other top picks include Scripps Networks, which has seen improved ratings, and 21st Century Fox, thanks to its ongoing talks with European satellite TV operator Sky.
Stifel’s positive outlook on CBS comes after Brean Capital in late December raised its price target to $75 from $65 and reiterated its “buy” rating on the stock.
CBS has been a top performer among media stocks in 2016, and with the Opening Bell on Jan. 3 will see shares trading at $63.62 — roughly $1.50 below its recent 52-week high. CBS shares have grown from $42.65 on Feb. 9 and $38.67 on Sept. 28, 2015 — its most recent low point.
What was amended in the preliminary prospectus?
There are new details regarding pre-offering financing, which provides a clearer picture of what CBS Corp. is doing in preparation for its spin-off of CBS Radio, and its initial public offering (IPO).
