Macquarie Upgrades Comcast Corp (CMCSA) to Outperform
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Macquarie upgraded Comcast Corp (NASDAQ: CMCSA) from Neutral to Outperform with a price target of $77.00 (from $69.00).
Analyst Amy Yong commented, "DreamWorks, wireless optionality, and digital initiatives are driving Comcast’s evolution into becoming a one-stop shop for all things consumer. Xfinity’s brand paired with strategic acquisitions like DreamWorks and BuzzFeed drive our ‘16/’17 estimates higher (see Fig. 7) with an ~8% EPS CAGR through ’18. With that, we are upgrading to Outperform from Neutral, with a US$77 target, up from US$69.
The potential AT&T-Time Warner/pending Starz-Lionsgate deals are highlighting the merits of distribution-content. Comcast’s ample balance sheet optionality leaves room for additional vertical deals, particularly as the NBCU consent decree is set to expire in roughly one year."
Shares of Comcast Corp closed at $64.06 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Marvell (MRVL) to Sell
- Jefferies Raises Price Target on Illinois Tool Works (ITW) Following Analyst Day
- UPDATE: Stifel Upgrades TripAdvisor (TRIP) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!