The U.S. Defense Information Systems Agency (DISA) has awarded a $102.8 million contract to Comcast Business, a subsidiary of Philadelphia-based telecommunications conglomerate Comcast (CMCSA).
Comcast Business offers a range of wireless, cybersecurity, networking, communications, connectivity, and managed solutions. (See Comcast stock chart on TipRanks)
Under the 10-year contract, Comcast Business will provide Ethernet to improve network performance, boost connectivity, and manage telecommunication costs across the DISA’s Defense Information Systems Network (DISN). The network includes Kentucky, West Virginia, Virginia, Washington, D.C, Ohio, and Maryland.
Vice-President of Government Sales at Comcast Business Ken Folderauer said, “This contract solidifies Comcast Business’ position as a premier provider of communications solutions to government agencies.”
Morgan Stanley analyst Benjamin Swinburne recently reiterated a Buy rating on the stock and increased the price target from $65 to $70 (22.8% upside potential). The analyst views the company’s risk/reward profile as “compelling” at current levels.
Overall, the stock has a Strong Buy consensus rating based on 15 Buys, 2 Holds, and 1 Sell. The average Comcast price target of $64.33 implies 12.8% upside potential from current levels. The company’s shares have gained 43.6% over the past year.
According to TipRanks’ Smart Score rating system, Comcast scores a “Perfect 10”. This suggests that the stock is likely to outperform market averages.
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