Comcast (CMCSA): Raising PT Ahead of Another Strong Year - Jefferies

Jefferies analyst, Mike McCormack, reiterated his Buy rating on shares of Comcast Corp (NASDAQ: CMCSA) and raised his price target to $80.00 ahead of wireless coming in 2017.

The analyst stated "Comcast is well-positioned for continued market leadership and (they) see fears of cord cutting and 5G competition as overstated. Comcast is competing well in a stronger demographic, and we see a diminished threat from telecom video as a continued tailwind, while NBCU is positioned well for continued strong growth".

Key reasons to put new money to work:
1) investors should expect another double digit dividend hike, with repurchases likely to remain steady, at $5bn
2) little movement in wireless is expected in 2017 and the analyst does not include it in his forecasts but he believes its coming
3) despite the OTT headlines, the analyst is expecting mid single digit growth in Cable
4) film strength is likely to continue with 5.9% revenue growth at NBCU in 2017, up from 1.4% in 2016. The acceleration is driven by Film, which benefits from a full year inclusion of Dreamworks Animation

The new $80 PT is up rom $77.

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 $69.86 yesterday.

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