The big news for communications titan Comcast (CMCSA) today was all about sports. Several different items of sports developments emerged, all connected to Comcast. Whether you favor football, basketball or racing, Comcast has something waiting. That caught investors’ attention as well, as shares rose fractionally in the closing minutes of Wednesday’s trading.
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First, Comcast will be throwing a little extra into its broadcast of the Super Bowl. For anyone watching the broadcast in 4K, Comcast will also add Dolby Atmos sound. This is not exactly new; Comcast has previously aired the Super Bowl with Dolby Vision. The addition of Dolby Atmos sound, meanwhile, should make a good thing even better.
By way of comparison, Fox (FOXA) will be showing the game in 1080p HDR, and upscaling that to full 4K for its networks, along with the Tubi app, where the game will be available in its entirety. Granted, Dolby Atmos is likely to be a “virtualized surround signal,” reports note, but for those with the kind of home theater hardware to handle such effects, it stands to be a good airing, and a boost to Comcast.
Meanwhile, More Sports
It did not stop there, either. Out in Denver, fans are rejoicing as Comcast made a deal with Altitude Sports that would bring Denver Nuggets and Colorado Avalanche games back to Comcast subscribers. Local blackouts had been in force since before the pandemic, but now, the games are back on.
Finally, Comcast renewed a partnership arrangement with NASCAR, which means that Comcast will continue to sponsor the Xfinity Series of races. The move comes at an excellent time; NASCAR has actually already started with the Cook Out Clash on February 2, but Championship points start accumulating with the running of the Daytona 500 in just under two weeks. Comcast will also be bringing in the “Xfinity Fastest Lap,” which gives one point to the driver with the fastest lap time.
Is Comcast Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on CMCSA stock based on 11 Buys and 11 Holds assigned in the past three months, as indicated by the graphic below. After a 21.46% loss in its share price over the past year, the average CMCSA price target of $43.08 per share implies 27.42% upside potential.
