Comcast (CMCSA) PT Lifted to $67 at Brean Capital; Strong Despite Time Warner Cable Deal Rejection

Brean Capital reiterated a Buy rating on Comcast Corporation (NASDAQ: CMCSA) and raised its target price to $67 (from $65), after a solid 1Q15 performance. After suffering the rejection of its bid to take over Time Warner Cable, Comcast continued to report solid revenue and profits.

Analyst Todd Mitchell commented, "... we think they will do just fine. Comcast has a strong service profile, best in class technology, and unrivaled economies of scale in its core Cable business. Moreover, NBCU is finally getting its house in order with strong trends at the Broadcast Network and Theme Parks. Comcast indicated that capital intensity is expected to go up, but with a best in-class service profile and a strong balance sheet, we think Comcast will be able to grow its business while funding an aggressive capital return program. As a result, we are raising our target price to $67 from $65, and we reiterate our Buy rating."

The analyst added, "Comcast reported a 3% increase in 1Q15 total revenue to $17.9 billion, an 8% increase in total OCF to $6.0 billion, and EPS of $0.81. Results were ahead of consensus for $17.4 billion, $5.8 billion and $0.74, respectively. Upside versus expectations was from NBCU which saw OCF grow 14% to $1.5 billion in the quarter."

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 $58.78 yesterday.

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