Brean Murray Carret & Co. reiterates a 'Buy' on Comcast (CMCSA); Tweaks Estimates Ahead of Earnings

June 25, 2012 12:13 PM EDT
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Price: $73.46 -0.15%

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Brean Murray Carret & Co. reiterates a 'Buy' on Comcast Corp (NASDAQ: CMCSA) price target of $35.00.

Analyst, Todd Mitchell, said, "Comcast is clearly finding stronger results from NBCU illusive. Cable Networks, the NBC Broadcast Network, and Filmed Entertainment all face challenges, which has prompted us to lower our Segment estimates for 2Q12 and 2012, and we now project lower OCF as a result. We are trimming our 2Q12 consolidated EPS estimate to $0.48 from $0.50 as a result. However, Cable segment trends remain solid and we believe Comcast is benefitting from its strong video service profile. As a result, we expect some of the weakness at NBC to be offset by upside from Cable segment results and are maintaining our 2012 EPS estimate of $1.90."

Mitchell sees Q2 revenues at $15.1 billion vs. consensus estimate of $15.22 billion. Sees FY12 revs at $61.64 billion vs. $61.84 billion consensus.

For an analyst ratings summary and ratings history on Comcast Corp click here. For more ratings news on Comcast Corp click here.

Shares of Comcast Corp closed at $30.83 yesterday.

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