BofA Securities Upgrades Comcast Corp (CMCSA) to Buy, 'we believe strategic action for NBCU is a necessity post Versant spin and recent deals.'

BofA Securities analyst Jessica Reif Ehrlich upgraded Comcast Corp (NASDAQ: CMCSA) from Neutral to Buy with a price target of $37.00 (from $31.00).

The analyst comments "M&A is here driven by the need to increase global scale as well as robust content offerings to drive down churn. Years of subscriber erosion in linear, coupled with the inherent challenges of the streaming model (including high churn, low switching costs, and ever‑increasing content demands), have made it difficult for sub‑scale companies to recapture the economics once provided by cable bundles. We are upgrading CMCSA to Buy with a $37 PO (from Neutral, $31) as we believe strategic action for NBCU is a necessity post Versant spin and recent deals. "

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 $28.36 yesterday.

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