Cable TV and Internet provider Comcast Corporation (
) on Thursday caught some continued bullish sentiment from analysts
at Wunderlich Securities.
The firm maintained its "Buy" rating on CMCSA and lifted its
price target from $36 to $40. That new target suggests a 17% upside
to the stock's Wednesday closing price of $34.19.
A Wunderlich analyst commented, "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
) also provided encouraging TV Everywhere usage info for the London
Olympic Games. We now emphasize a $40 2013 target."
Comcast shares were mostly flat in morning trading Thursday.
The Bottom Line
Shares of Comcast (
) have a 1.90% dividend yield, based on last night's closing stock
price of $34.19. The stock has technical support in the $30-$32
price area. The shares are trading near all-time highs.
Comcast Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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