Telecommunications conglomerate Comcast Corporation announced that users of its set-top platforms will soon have access to Disney+ and ESPN+ streaming services.
Comcast (CMCSA) said that it is rolling out Disney+ on Xfinity, which includes X1 cable TV and Flex broadband-streaming platforms. With this, Xfinity subscribers will have access to thousands of movies and shows ranging from Disney, Star Wars, Marvel, Pixar, and National Geographic.
Additionally, the company revealed that it is launching ESPN+ on its Flex platform and plans to introduce it on X1 in coming weeks. This will provide users access to over 10,000 live sports events available on ESPN+ streaming service. (See Comcast stock analysis on TipRanks)
Rebecca Heap, Senior Vice President, Video and Entertainment, Comcast Cable said, “With the launch of Disney+ and ESPN+, our X1 and Flex customers will now be able to enjoy all the best entertainment from today’s most popular streaming services on one device that makes it easy for them to find their favorite programming, or discover something new.”
On March 18, Credit Suisse analyst Douglas Mitchelson raised the stock’s price target to $67 (21.4% upside potential) from $61 and reiterated a Buy rating. Mitchelson believes that Comcast is in an advantaged position this year given growing Flex and Peacock users and increased focus on selling bundled products.
Overall, Wall Street analysts are cautiously optimistic on the stock’s outlook. The Moderate Buy consensus rating breaks down into 16 Buy ratings, 4 Hold recommendations and 1 Sell rating. The average analyst price target stands at $61.32 and implies upside potential of 11.1% to current levels. That’s after shares have jumped 59.6% over the past year.
On TipRanks’ Smart Score ranking, Comcast gets a 7 out of 10, suggesting that the stock is likely to perform in-line with market expectations.
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