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BofA Leaves Comcast CEO's Investor Presentation Feeling Bullish

Benzinga logo Benzinga 9/16/2020 Priya Nigam
© Provided by Benzinga Comcast Corporation (NASDAQ: CMCSA) CEO Brian Roberts Tuesday made several positive comments while presenting at an investor conference, according to BofA Securities.

The Comcast Analyst: Jessica Reif Ehrlich maintained a Buy rating on Comcast with an unchanged $53 price target.

The Comcast Takeaways: Comcast's share gains in high-speed data may continue for several years, Reif Ehrlich said in a Wednesday note.

The analyst named 10 positive data points presented by the Comcast CEO:

Third-quarter broadband net adds will exceed 500,000, which would represent the best quarter ever.  2020 broadband net adds are set to greatly exceed 2019 net adds of 1.4 million. Trends are improving in both revenue and sub growth for Comcast's business services.  Cable EBITDA growth in the third quarter will be “substantially better” than in the first and second quarters. The company continues to realize expense efficiencies.  Comcast is showing strong margin expansion. Peacock sign-ups have jumped to 15 million, and it is the second most-watched app on Flex. Comcast will use its wireless network to supplement its MVNO in high-traffic areas.  A significant restructuring at NBCU will drive reduced costs. TV and film production has returned, and the NBC fall season launches in November. 

CMCSA Price Action: Shares of Comcast were trading 1.13% higher at $46.98 at last check Wednesday. 

 

Latest Ratings for CMCSA

DateFirmActionFromTo
Aug 2020CitigroupMaintainsBuy
Jul 2020Morgan StanleyMaintainsOverweight
Jul 2020RosenblattMaintainsBuy

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