After Comcast reported in-line EPS and higher than expected revenue and the stock fell, Wells Fargo says the company's financials were "quite good," primarily due to NBC's favorable performance. The firm adds that the company's video subscriber growth jumped 52% year-over-year, but that investors were worried because of lower than expected telephone subscribers that led them to suspect that the company's new video subscribers are less "sticky" than in the past. However, Wells disagrees with this thesis. The firm cut its price target on the name to $68-$70 from $70-$72, citing increased investments by the company, but keeps an Outperform rating on the shares.
Scotiabank lowered the firm's price target on Comcast to $47.25 from $50 and keeps a Sector Perform rating on the shares. The company's broadband subscriber base continues to have elevated pressures, the analyst tells investors. In the upcoming quarters, broadband loading is expected to remain negative and potentially accelerate as fixed wireless access operators expand coverage in areas, the firm says. Scotiabank believes multiples will not expand until pressure on broadband subs diminish, the firm adds.
Pivotal Research analyst Jeffrey Wlodarczak lowered the firm's price target on Comcast (CMCSA) to $48 from $55 and keeps a Buy rating on the shares. Comcast reported an-line Q1 results but the competitive environment appears to be intensifying, the analyst tells investors in a research note. The firm believes there is an "outside shot" that Comcast could make a play for Warner Bros. Discovery (WBD) "given it can probably get the asset relatively inexpensively and it would clearly boost their scale in content," says Pivotal.
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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