Citi Reiterates Buy Rating on Comcast Corp (CMCSA)

Citi analyst Michael Rollins reiterated a Buy rating and $47.00 price target on Comcast Corp (NASDAQ: CMCSA).

The analyst comments "We expect Comcast to report generally solid 3Q24 financial results with a revenue lift from the Olympics, modest EBITDA growth within its C&P segment, and forward progress for its streaming Peacock platform. Cable broadband losses could end up better than our current (148k) forecast based on prior management comments related to potentially better ACP performance. Peacock subscriptions are apt to exceed our net add outlook of 1.5 million given the positive commentary on Olympics and strong start to the Fall sport schedule. WSJ (link) is reporting a possible Epic Universe opening as early as Memorial Day weekend 2025, which can be a positive catalyst to improve Parks performance next year and possibly ahead of our current expectations. We remain a Buyer of CMCSA and believe the combination of forward aggregate EBITDA growth prospects combined with the elevated pace of capital returns should support some multiple expansion over the next 12-months."

For an analyst ratings summary and ratings history on Comcast Corp click here. For more ratings news on Comcast Corp click here.

Shares of Comcast Corp closed at $42.25 yesterday.

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