"We have been methodically and strategically finding new ways to satiate the appetite for our content on new platforms, while tapping into the tremendous revenue provided by doing so," said Leslie Moonves, president and CEO, of CBS.
UBS raised its price target on the content provider to $54 from $45, citing CBS' ability to buy back one-third of its shares over the next few years, due to outdoor transactions and the company's free cash flow.
Closing prices: AAPL ended Thursday up $4.15, or 1%, to $432.50; AMZN fell $9.36, or 3.4%, to $265.74 and CBS rose $1.01, or 2.2%, to $46.95.
-- Written by Chris Ciaccia in New York>Contact by Email. Follow @Commodity_Bull