UPDATE: Wunderlich Securities Reiterates Buy Rating, Raises PT on Comcast
In a report published Wednesday, Wunderlich Securities reiterated its Buy rating on Comcast Corporation (NASDAQ: CMCSA), and raised its price target from $36.00 to $40.00.
Wunderlich noted, “The FCC now appears likely to approve the $3.9bn CableCo Spectrum sale to Verizon Wireless by its 8.21 target date with DOJ approval also in queue. As we had anticipated, the cable MSOs had to agree to limits on the more aggressive incarnation of the Joint Marketing Agreements with Verizon, including making FiOS areas no-go zones. Access to Verizon spectrum and other conditions could still be positive for the consumer appeal and economics for cable Wi-Fi efforts, although the limited duration of the JMAs and Verizon's self interest may take eventual VMSO branding using its network off the table. Buy-rated Comcast (CMCSA) also provided encouraging TV Everywhere usage info for the London Olympic Games. We now emphasize a $40 2013 target.”
Comcast Corporation closed on Tuesday at $34.36.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.