Market Overview

UPDATE: Brean Capital Reiterates On Comcast On Potential Significant Value Creation

Share:
Related CMCSA
3 Ways Snapchat Is Responding To Slow User Growth
Which Media Firms Are Benefiting Most From President Trump?

In a report published Wednesday, Brean Capital analyst Todd Mitchell reiterated a Buy rating on Comcast (NASDAQ: CMCSA), and raised the price target from $60.00 to $65.00.

In the report, Brean Capital noted, “We believe that the acquisition of Time Warner Cable (TWC $149.31, Buy) will create far greater synergies than what has been publicly discussed by either company. Comcast was a far better run company than TWC and NBCU appears to be in a structural renewal from prior underperformance.

"We foresee multi-billion opportunities for the combined company to create value in 1) raising TWC's residential metrics to the level of Comcast's, 2) combining the companies' highly complementary enterprise businesses, 3) a potential entrée into wireless via the formation of an MVNO, and 4) leveraging the two companies' national footprint to drive innovation into advertising. As a result, we are raising our target price on CMCSA to $65 from $60, which is based on 8.5x pro forma 2014E EV/EBITDA, and we reiterate our BUY rating.”

Comcast closed on Tuesday at $54.89.

Latest Ratings for CMCSA

DateFirmActionFromTo
Apr 2017SunTrust Robinson HumphreyInitiates Coverage OnBuy
Jan 2017Pacific CrestDowngradesOverweightSector Weight
Jan 2017HSBCInitiates Coverage OnBuy

View More Analyst Ratings for CMCSA
View the Latest Analyst Ratings

Posted-In: Brean Capital Todd MitchellAnalyst Color Price Target Analyst Ratings

 

Related Articles (CMCSA)

View Comments and Join the Discussion!