Comcast (CMCSA) stock was up on Thursday alongside news that NBCUniversal will launch a new cable sports network. This new network will be named NBC Sports Network (NBCSN) and will debut on Monday. It will be available through various pay-TV distributors, with Alphabet’s (GOOGL) YouTube TV subscribers being the first to gain access to the channel.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
NBCSN will offer a mix of live and archived sports coverage, such as what’s available for streaming on Comcast’s Peacock. The coverage available will include Monday Night NBA games and the NBA Playoffs, MLB games, Premier League soccer matches, WNBA Regular Season and Playoff games, Big Ten and Notre Dame Football, Golf Majors, Kentucky Derby, Olympic Sports, and a variety of shows.
Matt Schnaars, President of Platform Distribution and Partnerships at NBCUniversal, said, “NBCSN is a win across the board – driving value for fans and distributors who prefer an aggregated experience, league and conference partners seeking broad reach, and advertisers targeting engaged sports audiences – while also creating a new monetization path for some of our most premium programming and supporting NBCU’s commitment to serving viewers wherever they watch, whether on Peacock, pay-TV, or both.”
Comcast Stock Movement Today
Comcast stock was up 0.47% on Thursday but was still down 22.65% year-to-date. The stock has also fallen 35.86% over the past 12 months.
While traditional cable companies are still trying to make the switch to streaming, it hasn’t been an easy one, as cord cutters have grown used to not paying for their services. This makes it difficult to attract these customers to streaming platforms based on traditional cable offerings.
Is Comcast Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Comcast is Moderate Buy, based on eight Buy, 15 Hold, and a single Sell rating over the past three months. With that comes an average CMCSA stock price target of $36.36, representing a potential 29.53% upside for the shares.
