Comcast Price Target Lowered to $60.00 at UBS AG (CMCSA)
Equities researchers at UBS AG reduced their price target on shares of Comcast (NASDAQ:CMCSA) from $63.00 to $60.00 in a research report issued on Monday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. UBS AG’s price target points to a potential upside of 20.29% from the stock’s previous close.
The analysts wrote, “We are trimming our price target for CMCSA to $60 from $63, but reiterating our Buy rating, and we are upgrading TWC to Buy from Hold, and setting a price target of $165. Shares of both have underperformed since Comcast announced its bid for TWC in an un-collared all-stock deal and the entire group saw its M&A premium deflate. We think this deal will get done with a minimum of fuss, and we see the potential for upside to Comcast’s forecast for synergies. We expect cable will continue to be challenged by new OTT entrants and rising capital intensity, but we believe Comcast is uniquely well positioned to handle this situation, and we believe TWC will reap significant benefits from having Comcast’s template imposed on it, which should support increased capital returns once the deal closes. We also believe Comcast sees billion-dollar-plus opportunities in wireless and advertising as a result of the scale the deal provides. “We are trimming our target price on CMCSA to reflect the general pullback in cable multiples; however, we still see the potential for significant upside as implied in our new $60 target, which in turn would imply a fair value of $165 for TWC given the all-stock structure of the deal.”
A number of other firms have also recently commented on CMCSA. Analysts at Brean Capital reiterated a “buy” rating on shares of Comcast in a research note on Monday. They now have a $60.00 price target on the stock, down previously from $63.00. Separately, analysts at Deutsche Bank raised their price target on shares of Comcast from $64.00 to $65.00 in a research note on Monday, March 31st. They now have a “top pick” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Comcast in a research note on Wednesday, March 5th. They now have a $54.00 price target on the stock. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $56.80.
Shares of Comcast (NASDAQ:CMCSA) traded up 1.59% during mid-day trading on Monday, hitting $49.88. 15,818,808 shares of the company’s stock traded hands. Comcast has a one year low of $38.75 and a one year high of $55.28. The stock’s 50-day moving average is $50.19 and its 200-day moving average is $49.97. The company has a market cap of $130.0 billion and a price-to-earnings ratio of 19.18.
Comcast (NASDAQ:CMCSA) last released its earnings data on Monday, January 27th. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.04. The company had revenue of $16.93 billion for the quarter, compared to the consensus estimate of $16.63 billion. During the same quarter last year, the company posted $0.56 earnings per share. Comcast’s revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Comcast will post $2.86 earnings per share for the current fiscal year.
Comcast Corporation (NASDAQ:CMCSA) is a provider of entertainment, information and communications products and services.
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