Deutsche Bank Raises Price Target & Estimates on Comcast (CMCSA), Looks For Second Consecutive Solid Quarter

Deutsche Bank is reiterating its Buy rating on shares of Comcast Corp (NASDAQ: CMCSA) and is raising its price target from $30 to $33 as it believes momentum continued from Q4:10.

The firm notes that if CMCSA posted solid Q1 results it would result in two consecutive quarters due to going all-digital, Niel Smit’s marketing and customer service efforts kicking in, and expansion of VOD/iPad content.

Deutsche expects that momentum is continuing, with Q1 basic net adds -60k vs. Q1:10 of -82k, proforma cable revenue up 5.4% and PF cable EBITDA up 5.5%. The firm also raised its share buy back estimate for 2012 from $2 billion to $3 billion.

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 $26.13 yesterday.

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