Wunderlich Securities Initiates Coverage on Comcast (CMCSA) with a Buy
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Wunderlich Securities initiates coverage on Comcast (Nasdaq: CMCSA) with a Buy with a $19 price target, calling the stock a "relative safe haven."
Wunderlich analyst says, "Even within the cable group, Comcast is a relative safe haven with national diversity and advanced product penetration upside, in our opinion. The sticky utility nature of the voice/video/data triple play also makes it somewhat recession resistant. Nonetheless, we allow for only 5.3% forward cable annual OCF growth. Our price target is based on an S&P 500 linked valuation approach with an 850 S&P assumption. We provide sensitivities to Verizon FiOS and AT&T U-Verse competition."
Comcast Corporation (Comcast) is a cable operator in the United States.
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