UPDATE: Deutsche Bank Raises PT on Comcast from $34 to $38
Deutsche Bank reiterated a Buy rating on Comcast (NASDAQ: CMCSA) and raised its price target from $34 to $38.
Deutsche Bank commented, “CMCSA benefits from leading video innovation, telecom share gains, moderating capital intensity & scale advantages incl. programming cost hedges (NBCU, LT deals), offsetting video maturity & competitive pressures. Return of capital should continue to ramp in '13 (+38% Y/Y in '12). Looking farther out, a market multiple (13x) on ‘14E EPS ex-amort ($3.26) or attributable FCF /shr ($3.41) would imply ~35% upside potential.”
Comcast closed at $32.28 on Friday.
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Tags: Deutsche Bank