Citadel Securities Downgrades Comcast Corp (CMCSA) to Add
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Price: $40.21 -0.45%
Rating Summary:
17 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
17 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade CMCSA Now!
Citadel Securities downgraded Comcast Corp (NASDAQ: CMCSA) from Edge Positive to Add. PT maintained at $27.
Citadel analyst said, "We remain positive on the long-term story – Comcast’s cable business and NBCU were healthy businesses on an independent basis; under Comcast’s focused leadership, we believe the two together have the potential to create significant incremental shareholder value. However, after the
recent run-up in the shares, we think Comcast’s stock price performance will be closely tied to how successfully it assimilates NBCU, finalizes the NBCU management team and strategy, and is able to begin delivering on the investments that are required to turn around the Broadcast Networks business. NBCU was recently awarded the rights to broadcast the Olympic Games through 2020 at a $4.4 billion price tag. However, for the 2008 and 2010 Olympic Games, NBCU reported losses (including $223 million for the 2010 Games), and is projected to lose money on the upcoming 2012 London Games as well. Although the company likely will leverage its broadcast, cable, and digital assets to maximize revenues from the Games, the first test of the strategy will be the 2012 Games."
For more ratings news on Comcast Corp click here and for the rating history of Comcast Corp click here.
Shares of Comcast Corp closed at $23.92 yesterday, with a 52 week range of $16.76-$27.16.
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Citadel analyst said, "We remain positive on the long-term story – Comcast’s cable business and NBCU were healthy businesses on an independent basis; under Comcast’s focused leadership, we believe the two together have the potential to create significant incremental shareholder value. However, after the
recent run-up in the shares, we think Comcast’s stock price performance will be closely tied to how successfully it assimilates NBCU, finalizes the NBCU management team and strategy, and is able to begin delivering on the investments that are required to turn around the Broadcast Networks business. NBCU was recently awarded the rights to broadcast the Olympic Games through 2020 at a $4.4 billion price tag. However, for the 2008 and 2010 Olympic Games, NBCU reported losses (including $223 million for the 2010 Games), and is projected to lose money on the upcoming 2012 London Games as well. Although the company likely will leverage its broadcast, cable, and digital assets to maximize revenues from the Games, the first test of the strategy will be the 2012 Games."
For more ratings news on Comcast Corp click here and for the rating history of Comcast Corp click here.
Shares of Comcast Corp closed at $23.92 yesterday, with a 52 week range of $16.76-$27.16.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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