Analyst Matthew Harrigan of Benchmark Co. maintained a Buy rating on Comcast (CMCSA – Research Report), with a price target of $55.00.
Matthew Harrigan has given his Buy rating due to a combination of factors influencing Comcast’s potential for growth. Despite recent market volatility and a significant drop in Comcast’s stock price, Harrigan believes the stock is undervalued. He points to the strategic expansion of Universal’s theme parks as a key driver of future revenue. The recent announcement of a new park in the UK, which is expected to attract millions of visitors, and the upcoming Epic Universe opening in Florida are seen as significant growth opportunities.
Harrigan also considers the broader market conditions and applies a long-term valuation approach using Case Shiller P/E ratios. He suggests that even with a potential downturn in market multiples, Comcast’s stock could still be fairly valued at a higher price than its current level. This analysis supports his view that Comcast’s stock is a strong buy, as the company’s strategic initiatives and market positioning are likely to drive future financial performance.
According to TipRanks, Harrigan is an analyst with an average return of -4.2% and a 46.67% success rate. Harrigan covers the Communication Services sector, focusing on stocks such as Comcast, Grupo Televisa, S.A.B., and Live Nation Entertainment.
In another report released on April 1, Loop Capital Markets also maintained a Buy rating on the stock with a $62.00 price target.