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Fly News Breaks for December 30, 2019
VIAC, CMCSA
Dec 30, 2019 | 07:03 EDT
Benchmark analyst Matthew Harrigan keeps his Buy rating and $64 price target on Comcast (CMCSA) following The Wall Street Journal report on Friday that the company is in talks to acquire Xumo LLC. The analyst does not expect the deal to be material to the company's financials, but he sees the assets as potentially offering a "further technical backbone" ahead of Comcast's expected April 2020 launch of Peacock streaming service acquired at a "negligible price". Harrigan also believes that the deal is a "parallel" to Pluto TV acquisition by CBS (VIAC) earlier this year.