Macquarie Upgrades Comcast Corp (CMCSA) to Outperform

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."

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 $64.06 yesterday.

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