U.S. television advertising, which has been potent for more than a year, remained strong in the second quarter, according to Nomura Securities analyst Michael Nathanson. “Quite simply, the TV market is being driven by the laws of supply and demand. There are too many ad dollars chasing a smaller inventory of viewers,” Nathanson wrote to clients. National broadcast ratings were down 8% in the second quarter among viewers 18 to 49 years old, and the larger cable networks are seeing some declines, the analyst pointed out. Nathanson said he sees the greatest potential for second-quarter earnings surprises at CBS Corp. and Scripps Networks. He also lifted price targets at Viacom Inc. and Scripps Networks, while cutting stock projections for Time Warner and Discovery Communications, according to Marketwatch.