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Deutsche Bank Stays Bullish on Comcast; Price Target Boosted (CMCSA)

Cable TV and Internet provider Comcast Corporation ( CMCSA ) on Monday caught some continued bullish commentary from analysts at Deutsche Bank.

The firm maintained its "Buy" rating on CMCSA and lifted its price target from $34 to $38. That new target suggests an 18% upside to the stock's Friday closing price of $32.29.

A Deutsche Bank analyst commented, "CMCSA benefits from leading video innovation, telecom share gains, moderating capital intensity & scale advantages incl. programming cost hedges (NBCU, LT deals), offsetting video maturity & competitive pressures. Return of capital should continue to ramp in '13 (+38% Y/Y in '12). Looking farther out, a market multiple (13x) on '14E EPS ex-amort ($3.26) or attributable FCF /shr ($3.41) would imply ~35% upside potential."

Comcast shares posted small gains in premarket trading Monday.

The Bottom Line

Shares of Comcast ( CMCSA ) have a 2.01% dividend yield, based on Friday's closing stock price of $32.29. The stock has technical support in the $29-$30 price area. The stock is 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 Nasdaq, Inc.

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

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