UPDATE: Comcast Corp (CMCSA) PT Raised to $72 at Morgan Stanley
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Morgan Stanley analyst Benjamin Swinburne raised the price target on Comcast Corp (NASDAQ: CMCSA) to $72.00 (from $70.00) after the company reported outperformance from all three segments. The company also increased its broadband net additions expectations for the year after a record 2Q net additions. 2022 EBITDA/EPS moves up 2%/5% respectively,
The analyst reiterated an Overweight rating, stating "We view CMCSA shares as particularly compelling in 2021 given the durability and strength of its core cable business but with growth augmented by recovering NBCU and Sky. This portfolio, which is both more diversified but more cyclical than cable peers, is expected to deliver faster growth, yet shares trade at a discount. The 2Q results were an emphatic confirmation point to this view with EBITDA coming in ~10% ahead of expectations."
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