MoffettNathanson analyst Craig Moffett upgraded Comcast (CMCSA) to Buy from Neutral with a price target of $52, up from $49. The stock closed Monday down 53c to $42.66. Comcast shares has underperformed pure-play Charter Communications (CHTR) by an "astounding" 34% over the past year, Moffett tells investors in a research note. While this makes sense to a degree, at Comcast's current valuation, either NBC Universal or Sky is arguably being priced at less than zero, contends the analyst. He believes that even with a conglomerate discount, Comcast "is too cheap on any reasonable sum-of-the-parts valuation." Moffett sees little downside risk in the shares from here, and expects a "healthy snap back" from these valuations.
Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here
Comcast (CMCSA) is scheduled to announce quarterly results on April 25, while Paramount (PARA) and Warner Bros. Discovery (WBD) are... To see the rest of the story go to thefly.com. See Story Here