Comcast Started as a “Buy” at Janney Montgomery Scott; New Services Can Provide Long-Term Growth (CMCSA)

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Cable TV and Internet provider Comcast Corporation ( CMCSA ) on Tuesday received some bullish commentary from analysts at Janney Montgomery Scott.

The firm started coverage on CMCSA with a "Buy" rating and $45 price target, suggesting a 32% upside to the stock's Monday closing price of $34.17.

A Janney Montgomery Scott analyst commented, "We see CMCSA poised to leverage its infrastructure to introduce new services (home automation, security services, cloud storage, media streaming, etc.) that will provide meaningful growth for decades. It should also benefit from Ultra HD technology on the horizon, the move to client/server technology, Usage Based Billing (UBB), and new tools/assets that can help contain programming cost inflation. Lastly, CMCSA is uniquely positioned to develop next gen video products through recent innovation and a robust set of content rights. We believe investors will increasingly see new technology as a growth catalyst that will afford the company a premium multiple."

Comcast shares posted small gains in premarket trading Tuesday.

The Bottom Line
Shares of Comcast ( CMCSA ) have a 1.90% dividend yield, based on last night's closing stock price of $34.17. The stock has technical support in the $31-$32 price area. The stock is trading near all-time highs.

Comcast Corporation ( CMCSA ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: CMCSA

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