Oppenheimer Upgrades Comcast Corp (CMCSA) to Outperform; 'A Lot of Positive Levers'

April 30, 2021 6:23 AM EDT
Get Alerts CMCSA Hot Sheet
Price: $55.48 -3.73%

Rating Summary:
    32 Buy, 9 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 9 | New: 25
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Oppenheimer analyst Timothy Horan upgraded Comcast Corp (NASDAQ: CMCSA) from Perform to Outperform with a price target of $75.00.

The analyst commented, "We upgrade Comcast to Outperform (from Perform) and introduce a $75 price target based on the attached DCF. CMCSA's growth outlook is improving across each segment coming out of COVID and we think now is an attractive entry point for investors. Cable's performance has been resilient due to broadband, and we are starting to see revenue growth and margin improve for Wireless and Business Services. NBCU has been recovering better than expected; with advertising and content production ramping strongly. The Olympics this year and next will be positive
for Peacock and advertising. Sky is recovering with sports returning and strength in the UK advertising market. Government broadband subsidies could present upside, and we think CMCSA Is well-positioned to benefit from this."

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 $56.26 yesterday.



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