Raymond James Reiterates Market Perform Rating on Comcast Corp (CMCSA)
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Raymond James analyst Frank Louthan reiterated a Market Perform rating on Comcast Corp (NASDAQ: CMCSA) ahead of the company's 3Q earnings report. Theme parks have reopened at partial capacity and advertising has picked up with the return of major sports and the election, however Louthan still believes NBCU weakness from delayed theatrical releases and lower overall park attendance will continue to weigh down the core cable business.
Raymond James adjusted estimates for FY20 revenue, EBITDA, non-GAAP EPS and FCF/ share estimates to $101.63 billion, $30.06 billion, $2.45 and $3.71 from $100.09 billion, $29.93 billion, $2.43 and $3.68, respectively. For 2021, estimates for the same move to $113.15 billion, $34.85 billion, $3.18, and $4.24 from $112.89 billion, $34.64 billion, $3.14 and $4.19.
Shares of Comcast Corp closed at $45.30 yesterday.
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