Pivotal Research analyst Jeffrey Wlodarczak reiterated a Buy rating on Comcast (NASDAQ: CMCSA) today and set a price target of $48. The company’s shares opened today at $37.61.
Wlodarczak wrote:
“We tweaked our cable 3Q forecasts modestly higher and expect a very solid 3Q result in front of the seasonally stronger 4Q and 1Q. In addition, we reduced our NBC 3Q forecasts materially lower (on film on tough comps and theme parks on the significant, but temporary, weather effects in Japan).”
According to TipRanks.com, Wlodarczak is a 4-star analyst with an average return of 9.7% and a 67.5% success rate. Wlodarczak covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Charter Communications, and Sirius XM Holdings Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Comcast with a $48.36 average price target, implying a 28.6% upside from current levels. In a report released today, Jefferies also reiterated a Buy rating on the stock with a $44 price target.
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Based on Comcast’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $21.74 billion and net profit of $3.22 billion. In comparison, last year the company earned revenue of $21.17 billion and had a net profit of $2.51 billion.
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