Comcast price target lowered to $44.50 from $45 at Scotiabank

Scotiabank analyst Maher Yaghi lowered the firm’s price target on Comcast (CMCSA) to $44.50 from $45 and keeps a Sector Perform rating on the shares. The firm applauds management for moving into an offensive strategy to tackle the losses in broadband subscribers, the analyst tells investors. The initial steps taken will likely pressure ARPU, Average Revenue Per User, and profitability, but the company’s balance sheet should support this endeavor, the firm adds.