UPDATE: Wunderlich Securities Reiterates Buy, $36 PT on Comcast; NBCU, U-Verse
Wunderlich Securities reiterates its Buy rating and $36 price target on Comcast (NASDAQ: CMSCA) ahead of earnings.
Wunderlich Securities notes, "We remain positive on Buy-rated Comcast (CMCSA) into tomorrow's earnings call, and feel that much of the remaining equity upside resides at the 51% NBCUniversal interest. A surprising element of eventual upside may be geared toward Universal Pictures and Parks beyond the familiar cable networks story - as the market congenitally undervalues studios relative to cable nets. Although NBCUniversal CEO Steve Burke has recently expressed amplified skepticism on the movie biz per reports from the CAA retreat, Universal showcased impressive product in the final presentation at last week's CinemaCon that should afford more credibility to its top 15.3% 2012 ytd market share."
CMSCA closed at $30.28 on Monday.
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