Bernstein lowered the firm’s price target on Comcast (CMCSK) (CMCSA) to $36 from $37 and keeps a Market Perform rating on the shares. The firm expects competition to intensify further in the foreseeable future. Its impact will vary by player – some may even merge stronger – but Bernstein anticipates that the rising competitive pressure will prove especially challenging for CableCos. The extent of this impact will depend on each company’s response – if they have a choice – but in a market where Cable products are squeezed between the ostensibly superior Fiber and the adequate FWA, balancing the price-volume-marketing spend equation will be harder.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CMCSA:
- “Eventizing” Growth: Comcast Stock (NASDAQ:CMCSA) Slips Despite Peacock Growth Plan
- NBCUniversal setting 4-day-a-week RTO plan, Deadline reports
- Paramount Skydance Plans to Make MTV a ‘Music Tastemaker’ Again
- Alphabet downgraded, Boeing upgraded: Wall Street’s top analyst calls
- Comcast initiated with a Sector Perform at RBC Capital