We know that there is an increasing premium on live sports these days. Communications titan Comcast (CMCSA) has been working to take advantage of that development for some time now. New reports suggest that the move is already paying off with new features in the making. But this held little water for investors, who sent shares down over 2% in Wednesday afternoon’s trading.
Recent word notes that Comcast is starting up the NBCUniversal SportsTech program for the fifth time. For those not familiar, the SportsTech program is a kind of accelerator system for nascent businesses looking to make a hit. Not only will the best firms in this program get access to mentorship programs and input, but they will also get access to expanded funding and networking opportunities.
Reports note that artificial intelligence (AI) systems are getting a particular showing at this year’s event. One such firm—Camb.AI, operating out of Dubai—is bringing out a speech translation system that renders one language into a translation of 140 different languages. It already has partnership deals with a range of entities like Major League Soccer and beyond, able to take a soccer match broadcast in English and convert it to several languages at the same time.
More Carriage Issues
But a different problem is in the works, reports note, as Comcast is working on a carriage deal with Marquee Sports Network. Marquee handles the Cubs games, and with Comcast currently the largest cable provider in the Marquee service area, that represents an outsized potential issue.
Comcast has been looking to move regional sports networks (RSNs) like Marquee to a higher tier of cable service, potentially limiting their reach as customers begin to question if the service is worth the expanded cost. The resulting head-butting session is leaving some questioning whether or not Marquee will be available on Comcast on opening day, a potentially major blow to both sides.
Is Comcast Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on CMCSA stock based on 12 Buys and nine Holds assigned in the past three months, as indicated by the graphic below. After a 14.23% loss in its share price over the past year, the average CMCSA price target of $42.63 per share implies 21.14% upside potential.
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