Comcast price target lowered to $39 from $44 at Citi

Citi lowered the firm’s price target on Comcast (CMCSA) to $39 from $44 and keeps a Buy rating on the shares following the Q1 report. Comcast is investing to turnaround “tougher-than-expected” broadband performance as net subscriber losses have accelerated from a combination of ongoing competition from fiber and a possible pick-up in mobile substitution of broadband, the analyst tells investors in a research note. However, the firm says Comcast’s underlying financial performance during Q1 was favorable.