KeyBanc raised the firm’s price target on Comcast (CMCSA) to $47 from $44 and keeps an Overweight rating on the shares. Comcast’s Q3 results came in better than expected, with broadband subscribers surprising positively due to a number of one-time factors, but are likely to remain depressed from competition, the analyst tells investors in a research note. KeyBanc is optimistic on Comcast’s positioning given its Cable network investments are leading peers, EPIC Universe opening should improve Theme Park growth and lower capital intensity, and a potential spinoff of the Cable business could unlock a conglomerate discount.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CMCSA:
- Comcast Corporation Reports Strong Q3 2024 Earnings
- Comcast price target raised to $50 from $46 at Goldman Sachs
- Comcast upgraded to Outperform from Sector Perform at Scotiabank
- Comcast price target raised to $54 from $47 at Pivotal Research
- MoffettNathanson sees ‘reasons for optimism’ on Comcast looking to 2025
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
