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CBS Stock Earnings Estimates Raised at Nomura Following Q2 Beat

NEW YORK (TheStreet) -- CBS (CBS) stock earnings estimates were raised for fiscal 2016 to $4.07 from $4.03 and for fiscal 2017 to $4.46 from $4.43 at Nomura this morning, after reporting fiscal 2016 second quarter results on Thursday.

The firm has a $66 price target and "buy" rating on the stock.

After the market close, CBS reported adjusted earnings of 93 cents on revenue of $3.29 billion, vs. Wall Street's estimates of 86 cents on revenue of $3.21 billion.

Nomura called the New York-based broadcast television network the "apple of our eye" as the company topped the firm's own earnings estimates of 86 cents with "upside driven by out-performance across both the Entertainment and Local...