We know that entertainment giant Comcast (CMCSA) has put a lot behind live sports exhibition these days. Just about every streaming platform out there is either adding or looking into some kind of sports connection to draw interest and keep customers. Comcast is taking this a step further, and recently revealed the new location of the shared arena for the Flyers, 76ers and Philadelphia’s WNBA team. That revelation caught investors’ attention, who sent shares up over 1.5% in Monday morning’s trading.
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The combined force of Comcast Spectacor and Harris Blitzer Sports & Entertainment will put the new arena on the corner of Pattison Avenue and Broad Street. Specifically, it will be the southeast corner, where the Spectrum was previously. It is also next to SEPTA’s Broad Street Line, reports noted.
It will take about three years to get the stadium put together, reports note. There is something of an incentive to hurry here, as the Philadelphia WNBA team should be ready to go in 2030. As for Xfinity Mobile Arena, that will be demolished following the completion of the new arena, reports note. With the stadium complete, the various teams involved will have a new place to play, and Comcast will likely be able to put together substantial amounts of sports content from there.
Peele Behind
Comcast’s Universal arm, meanwhile, is having a few troubles as it continues to wait for the next Jordan Peele movie. Originally, there was a projected release date of October 23, 2026 for the next film, but this date was regard more as “…a placeholder rather than a promise.” Peele, known for an increasing number of scary movies despite his comedic roots, originally planned a release for Christmas Day 2024, but scrapped that in favor of something else.
Peele subsequently tossed the “something else,” reports note, in favor of another idea. And now, reports note, Peele is actually still writing the next movie. Universal is beginning to get frustrated by Peele’s constant pivots, reports note, and with good reason. Peele hasn’t released anything since Nope back in 2022, and that is a long time to go without new content in the midst of a multi-year deal.
Is Comcast Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on CMCSA stock based on four Buys, 11 Holds and two Sells assigned in the past three months, as indicated by the graphic below. After an 11.82% loss in its share price over the past year, the average CMCSA price target of $31.93 per share implies 6.26% upside potential.
