Wunderlich Boosts Target for Buy-Rated Comcast (CMCSA)

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Cable TV and Internet provider Comcast Corporation ( CMCSA ) 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 Comcast ( CMCSA ) 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 ( CMCSA ) 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 ( CMCSA ) is not recommended at this time, holding a Dividend.com 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 OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: CMCSA

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