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UPDATE: Atlantic Equities Downgrades Comcast Corp (CMCSA) to Neutral

August 15, 2022 3:29 AM EDT
Get Alerts CMCSA Hot Sheet
Price: $30.43 -2.34%

Rating Summary:
    26 Buy, 19 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 11 | New: 34
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(Updated - August 15, 2022 6:21 AM EDT)

Atlantic Equities analyst Hamilton Faber downgraded Comcast Corp (NASDAQ: CMCSA) from Overweight to Neutral with a price target of $44.00 (from $60.00).

The analyst comments "For Comcast, we see EBITDA growth averaging 3% over the next three years with a similar growth rate at cable. We expect EPS growth to average 9% over this period. While this is a relatively healthy level, ongoing weak broadband subs in the near term is certainly going to depress multiples. We are continuing to value Comcast on an all-in multiple basis. Comcast has traded at a discount to the S&P500 for the past four years and we are assuming this continues. We are cutting our 2024 target multiple from 13x to 11x and our price target comes down from $60 to $44, or around 10% upside from current levels. Our target multiple assumes the company continues to trade at around the same level."

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 $40.00 yesterday.


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