CBS Corporation (CBS) Stock Up After Upgrade at Atlantic Securities

CBS Corporation (NYSE: CBS) shares rose in value on Monday February 6 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.

Investors turned cautious in early trading today with the Dow Jones Industrial Average DJIA, was off by 17 points, or 0.1%, to 20.054.

The S&P 500 SPX, -0.14% eased 5 points, or 0.2%, to 2,293, with seven of the 11 main sectors trading lower. Nearly all main sectors were trading lower, while materials and consumer staples led the losses.

The Nasdaq Composite COMP, -0.14% slipped 10 points, or 0.2%, at 5,144.

Analysts at Atlantic Securities upgraded shares of CBS Corporation (NYSE: CBS) from Neutral to Overweight today. The company currently has a rating of Overweight on the shares. The one-year price target of $69.72 is higher than the opening price of $64.33, causing a number of other analysts to report on the stock in recent days. Looking back over the last year, CBS Corporation stock has a high of $66.88. Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.

Yesterday CBS Corporation (NYSE: CBS) shares last traded at $64.90, an increase of $0.75 compared to the previous closing price. Opening at $64.33, they ranged from $64.15 and $64.91 throughout the day.

CBS Corporation (NYSE: CBS) now has a market cap of 27.89B.

CBS Corporation (NYSE: CBS) Average Daily Trading Volume

300,337 shares crossed the trading desk yesterday, 94 percent below normal, out of a total float 387,377,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.

However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors retain substantial teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you’re considering.

CBS Corporation (NYSE: CBS) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.

Trades for CBS Corporation (NYSE: CBS) have ranged from $41.36 – 66.88, and the stock now has a 50-day MA of $63.95 and 200-day MA of $57.40. Today’s last price is 2.96%% under the 52 week high of $66.88.

Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have raised their earnings by at least 25% for the past 3 years.

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