Nomura Securities Maintains a 'Buy' on Comcast Corp (CMCSA); Raising FY on Back of Good Q1
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Price: $37.87 -5.82%
Rating Summary:
30 Buy, 19 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
30 Buy, 19 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Nomura Securities maintains a 'Buy' on Comcast Corp (NASDAQ: CMCSA) price target of $32.00.
Analyst, Mike McCormack, said, "1Q12 financial results came in slightly better than expectations, despite softer sub growth, pricing and sustained execution maintained ~20% FCF/share growth. While we recognize the poor optics around video subscriber growth, free cash flow should be the focus. With the seasonally weak 2Q sub trends upon us, near-term improvement appears unlikely. We have increased our 2013 buyback estimate to $3.5bn from $3.1bn and now anticipate 90% of cable FCF to be returned. We expect Comcast to have $10bn of leverage capacity at year end. Our 2012E EPS goes from $1.88 to $1.95."
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 $30.42 yesterday.
Analyst, Mike McCormack, said, "1Q12 financial results came in slightly better than expectations, despite softer sub growth, pricing and sustained execution maintained ~20% FCF/share growth. While we recognize the poor optics around video subscriber growth, free cash flow should be the focus. With the seasonally weak 2Q sub trends upon us, near-term improvement appears unlikely. We have increased our 2013 buyback estimate to $3.5bn from $3.1bn and now anticipate 90% of cable FCF to be returned. We expect Comcast to have $10bn of leverage capacity at year end. Our 2012E EPS goes from $1.88 to $1.95."
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 $30.42 yesterday.
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