UBS lowered the firm’s price target on Comcast (CMCSA) to $36 from $40 and keeps a Neutral rating on the shares following the “better” earnings report. UBS expects higher investment to drive 1%+ connectivity EBITDA declines in Q3 while content EBITDA growth improves in Q3 with better parks, but reverses in Q4 as NBA rights amortization begins, the analyst tells investors in a research note.
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