Communications giant Comcast (CMCSA) has been busy lately. While many of us are still wondering about its cable channels, and their ultimate fate, it would be easy to forget that there are many more aspects of Comcast to consider, like its internet business.
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One of the biggest moves Comcast made was migrating its 5G infrastructure away from in-house material to Amazon Web Services (AMZN). This is supposed to improve service, particularly for Xfinity Mobile and Comcast Business Mobile customers, but based on the share price loss, that may not prove the case.
Meanwhile, Comcast is reportedly poised to drop $55 million in Indiana in a bid to expand high-speed internet access to underserved communities across the state. With the Indiana Office of Community and Rural Affairs involved, it is a safe bet this means rural locations.
Maybe They Should Sell?
While the idea of Elon Musk buying Comcast channels is not bad per se, there are some signs that suggest such an offer would not go unwelcomed. A new report claims that MSNBC recently hit a ratings low not seen in 20 years. In fact, MSNBC is buckling among the 25 – 54 demographic, particularly vital for its attracting advertising dollars.
Another report says that, after Donald Trump’s second victory in the presidential race, many viewers pulled out of MSNBC altogether. CNN also took a significant ratings hit, and many migrated to Fox News.
Is Comcast Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on CMCSA stock based on 12 Buys and eight Holds assigned in the past three months, as indicated by the graphic below. After a 2.57% rally in its share price over the past year, the average CMCSA price target of $49.47 per share implies 15.41% upside potential.
