After meeting with management, Oppenheimer analyst Timothy Horan says Comcast remains "very optimistic" on its business model, as does he, and the company remains "undervalued versus its peers." The analyst also believes management is unlikely to make any major acquisitions given its strong position, regulatory uncertainty, and high relative valuations of targets. Horan reiterates an Outperform rating and $46 price target on the shares.
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.
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