This morning, Jefferies & Co. upgraded television network CBS Corp. (CBS), elevating the media company to buy from hold. Jefferies also upped CBS's price target to $16 from $12. According to the broker, CBS's recent strength in ad pricing indicates that more advertisers are likely to pay upfront for advertising time. This likelihood means that the company should not face uncertainty and need to resort to higher prices due to the scatter market.

The brokerage cited the fact that the third quarter of 2009 saw companies purchasing ads mere days away from the commercial's air time. This time window is now closer to four weeks. Jefferies stated, "We further note that CBS has one of the only good stories to tell advertisers with ratings up at the network."

Hooray! Maybe we'll finally learn how Ted met his kids' mother after all.

CBS Corp. (NYSE: CBS) was in line at upfronts central this morning, and there were not many things stripped from the schedule. The network is still banking on procedural drams, which have helped revitalize ratings in recent years.

Returning: "CSI: Crime Scene Investigation", "CSI: Miami", "CSI: NY", "Ghost Whisperer", "How I Met Your Mother", "The New Adventures of Old Christine" (so nice to see the "Seinfeld curse" broken!), "NCIS", "Numbers", "Shark", "Rules of Engagement", "Two and a Half Men", "The Unit", "Without a Trace."

Canceled: "3 Lbs.". "The Class", "Close to Home", "Jericho" (too bad ... I heard this was a good one. Of course, I never watched it ...), "The King of Queens" and "Waterfront."

New offerings from the first-place network include "Cane", starring the ever-likable Jimmy Smits as part of a Cuban-American family running a rum business in South Florida. Hugh Jackman comes to the small screen in "Viva Laughlin", a mystery surrounding a Nevada casino owner. If vampire private eyes are your thing, check out "Moonlight." The fourth and final new drama from CBS this fall is "Swingtown", a soap set in 1970s Chicago that may hit the schedule midseason. One sitcom and a Drew-Carey-hosted game show are also set to debut this fall.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.

As I noted last week, these are exciting days for television viewers as season and series finales are being fired at us every night. Meanwhile, every day, a major network unveils its scheduling plans for the upcoming fall season. As Maggie noted over at TiFaux.com, "It's like Christmas, only you don't get to open your presents for four months."

General Electric Co.'s (NYSE: GE) NBC was first to report yesterday, and there weren't many surprises. Walt Disney Co.'s (NYSE: DIS) ABC is in focus today, with only a handful of shows still on the bubble.

My stress level begins to build tomorrow when CBS Corp. (NYSE: CBS) makes its upfront decisions known to the world. At issue for me personally is How I Met Your Mother. This ratings-challenged Monday-night comedy that, while it isn't the best thing on television, is unique, quirky, and smart. The five core characters are all strangely likable, from ultra-modern Canadian woman Robin Scherbatsky (Cobie Smulders) to suspect Lothario Barney Stinson (the incomparable Neil Patrick Harris). Last night's season (hopefully not series!) finale wrapped up some plots, but left the future wide open. I only hope we get to see more of the gang next year and beyond -- especially since the audience (and the central character) has yet to meet the titular mother!