UPDATE: Raymond James Downgrades Comcast Corp (CMCSA) to Market Perform
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Raymond James analyst Frank Louthan downgraded Comcast Corp (NASDAQ: CMCSA) from Outperform to Market Perform with a price target of $60.00.
The analyst comments "We are lowering our rating on Comcast to Market Perform from Outperform. Despite greater media and entertainment exposure as a hedge, we believe increasing competitive pressure from telcos expanding their own fiber builds, along with what we expect to be elevated regulatory influence under the imminent reinstatement of Title II will ultimately limit future subscriber growth from here. As sub growth wanes, we believe it will be difficult for Comcast to attain a market multiple."
Shares of Comcast Corp closed at $54.70 yesterday.
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