CBS (NYSE:CBS) Has Turned into FCF Machine

Share prices for CBS (NYSE:CBS) are expected to go higher, as net debt is down and cash from operations is rising.

Needham said, "CBS has turned into a FCF machine. Cash from Operations is up $1.4B y/y in the first 9 months of FY2010 and net debt is down $1.14B (17%) today vs 12 months ago...We maintain our BUY rating on CBS and believe rising ROICs will continue to drive CBS’s share price higher."

Needham is maintaining their "Buy" rating on CBS, which was trading at $18.01, up $0.21, or 1.18 percent, as of 12:17 PM EDT. They have a price target of $19 on the entertainment company.