NEW YORK CBS Corp. shares were overly punished in the recession, but they will continue to rise as the economy strengthens, president and CEO Leslie Moonves said here Tuesday.
Speaking at the company’s annual shareholder meeting, Moonves pointed out that the stock has already doubled from a low point hit earlier in the year. “As the economy improves, our stock price will, too,” Moonves promised.
He also reiterated recent comments about a stabilizing economy and advertising market.
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