Analyst Jessica Reif Ehrlich from Bank of America Securities maintained a Hold rating on Comcast (CMCSA – Research Report) and keeping the price target at $38.00.
Jessica Reif Ehrlich’s rating is based on Comcast’s mixed financial and subscriber results. While the company’s financial performance surpassed expectations, particularly in terms of EBITDA and free cash flow, the broadband subscriber numbers fell short of forecasts. The decline in broadband subscribers, both residential and business, was a key factor in maintaining a Hold rating.
Additionally, while Comcast’s Content & Experiences segment showed resilience with better-than-expected results in Media, Studios, and Theme Parks, the overall growth was not sufficient to warrant a more favorable rating. The company’s strategic focus on improving broadband results through mobile and converged offerings in the coming years suggests a cautious outlook. Therefore, the Hold rating reflects a balanced view of the company’s current strengths and challenges.
According to TipRanks, Reif Ehrlich is a 4-star analyst with an average return of 4.8% and a 48.17% success rate. Reif Ehrlich covers the Communication Services sector, focusing on stocks such as Spotify, Comcast, and Sirius XM Holdings.
In another report released on April 21, Bernstein also maintained a Hold rating on the stock with a $38.00 price target.