Goldman Sachs Maintains CBS Neutral, Raises PT To $21 (CBS)

Goldman Sachs maintained its CBS CBS Neutral rating and raised CBS's price target from $19 to $21 in a research report published today. In the report, Goldman Sachs states, "CBS reported 4Q2010 adjusted EPS of $0.46, above our $0.41 estimate and consensus of $0.44. Revenue and OI were ahead of our estimate by 1% and 3%, respectively. The OI beat was driven by Outdoor and Cable Network margins. The OI beat accounted for only $0.01 of the $0.05 beat with the balance mostly from a lower tax rate." Shares of CBS were trading at $21.94 in Wednesday after hours trading, down 0.72% from Wednesday's market close.