UPDATE: ISI Group Reiterates Buy Rating, Raises PT on Comcast Corporation

In a report published Monday, ISI Group reiterated its Buy rating on Comcast Corporation (NASDAQ: CMCSA), and raised its price target from $41.00 to $43.00.

ISI Group noted, “In our channel checks in most of their top markets resulted in a host of answers ranging from ‘There is no rate increase' in Detroit, MI to a +14% rate increase in the limited basic package in Philadelphia, PA...On a subscriber-weighted basis across markets, the limited basic package prices were increased by 10% while the digital starter package prices were increased by 3%. Assuming that only 5% of the subscribers took the limited basic package (Comcast's digital penetration at the end of 3Q12 was ~96%) while assuming that all the other digital packages saw rate increases similar to the digital starter packages, on a subscriber-weighted basis that would amount to an average rate increase of ~3.7%.”

Comcast Corporation closed on Friday at $39.76.

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