Canaccord Genuity Lifts Price Target on Comcast (CMCSA), Best in Cable

Canaccord Genuity boosted its price target on Buy-rated Comcast Corp (NASDAQ: CMCSA) from $36 to $42, saying it has the best cable fundamentals, with NBCU providing upside.

"As we review our estimates for 2H12, we make several adjustments in this report, including: lowering our 3Q12 data and voice estimates but increasing our NBCU AOCF estimate," the analyst comments. "Essentially, the higher NBC ratings and sell-out rate for the Summer Olympics caused us to increase our NBC revenue and AOCF estimates. For 4Q12, we are increasing several of our customer estimates and increasing our Cable OCF estimate."

The firm introduces 2013 estimates which include: Cable AOCF of $16.82bn (reflecting 4.4% growth) and NBCU AOCF of $4.15bn (reflecting 5.4% growth).

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 $35.12 yesterday.

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