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Why This Comcast Analyst Is Turning Bullish: 'Best-In-Class Cable Business'

Why This Comcast Analyst Is Turning Bullish: 'Best-In-Class Cable Business'

Comcast Corporation (NASDAQ: CMCSA) seems to be moving in the right direction, and its stock should outperform over the next 12 months, according to Cowen.

The Comcast Analyst: Gregory Williams upgraded Comcast from Market Perform to Outperform and raised the price target from $56 to $60.

The Comcast Thesis: Strength in the cable subsidiary should “should de-risk COVID-impacted segments,” including Sky, which was acquired in 2018, and the NBCUniversal subsidiary, Williams said in the upgrade note.

“Specifically, while we have always felt Comcast has had a best-in-class cable business, the segment’s already impressive strength/defensibility has further improved, underscored by the permanency of COVID-19/WFH (work from home) trends,” the analyst said. 

“Meanwhile, we like the upside to other aspects of the business including its burgeoning xFinity Mobile wireless segment, improvement in NBCU in a postvaccine environment, and upside to Sky following the down year in 2020.” 

The company may announce a buyback program in the back half of 2021 and accelerate share repurchases in 2022, he said. 

CMCSA Price Action: Shares of Comcast were trading 0.85% lower to $50.74 at last check Wednesday.

Photo courtesy of Comcast. 

Latest Ratings for CMCSA

Apr 2021Raymond JamesUpgradesMarket PerformOutperform
Mar 2021Credit SuisseMaintainsOutperform
Mar 2021Wells FargoInitiates Coverage OnUnderweight

View More Analyst Ratings for CMCSA
View the Latest Analyst Ratings


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Posted-In: Cowen Gregory WilliamsAnalyst Color Upgrades Price Target Analyst Ratings Best of Benzinga

Latest Ratings

GIKColliers SecuritiesInitiates Coverage On14.0
SANWLake StreetInitiates Coverage On6.0
LILAMorgan StanleyDowngrades15.0
BEJP MorganUpgrades36.0
NEXACredit SuisseUpgrades11.0
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