Bank of America Securities analyst Jessica Reif Ehrlich maintained a Hold rating on Comcast yesterday and set a price target of $38.00.
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Jessica Reif Ehrlich’s rating is based on Comcast’s financial and operational performance, which exceeded expectations in several areas. The company reported better-than-expected results in broadband subscriber numbers, with residential broadband losses being less than anticipated. Additionally, Comcast’s financials were strong, with consolidated revenue and EBITDA growth surpassing forecasts, driven by improvements in both the Connectivity & Platforms and Content & Experiences segments.
Despite these positive results, the Hold rating reflects a cautious outlook due to certain challenges. While Comcast’s broadband and wireless net additions were better than expected, there were still notable losses in video subscribers. Furthermore, the company’s stock repurchase and dividend payouts were slightly below projections, indicating a conservative approach to capital returns. Overall, the Hold rating suggests that while Comcast is performing well, potential risks and market conditions warrant a neutral stance on the stock.
In another report released today, Barclays also maintained a Hold rating on the stock with a $34.00 price target.
CMCSA’s price has also changed slightly for the past six months – from $33.660 to $33.230, which is a -1.28% drop .