Oppenheimer Upgrades Comcast Corp (CMCSA) to Outperform; 'A Lot of Positive Levers'
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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."
Shares of Comcast Corp closed at $56.26 yesterday.
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