CBS Corporation is a multimedia company that produces television programs, operates broadcasting and provide online content.

In the first quarter, the company has released a net profit rose to $363 million, up 80% from $202 million, a year earlier. Revenue increased by 12% to $3.92 billion thanks to higher fees from retransmission and streaming contracts. As the chart remarked (financials heading), earning per share should increase in next years.
Besides, the company is trading at a moderate level in comparison with competitors as shown by the ratio “enterprise value/revenue” is estimated at 1.81x.

Since end of December, CBS’ stock has initiated a sharp bullish trend as shown by a rise of 40%. The move could be continued, supported by these moving averages and return to its highest level of 2008 at USD 34.3.

Exceeding the technical line at USD 34.4 would help to open new upward targets. In this case, market participants could buy this stock with an initial target at USD 37.8 in closing price. If investors reduce long-side exposure for profit-taking ; below USD 32.2 this bullish strategy would be invalidated.