UPDATE: Bank of America Merrill Lynch Raises PO on CBS to $37

Bank of America Merrill Lynch is out with its report today on CBS CBS, raising its PO to $37. In its report, Bank of America Merrill Lynch writes, "We strongly reiterate our Buy and raise our PO to $37 due to: (1) an improving earnings mix, (2) new peak margin potential, (3) solid capital returns w/more room to expand and (4) leading ratings/better cost structures." At the time of posting, shares of CBS were trading at $18.13, up 11.50% from Tuesday's close.