Comcast price target lowered to $38 from $45 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Comcast (CMCSA) to $38 from $45 and keeps an Equal Weight rating on the shares. The firm lowered estimates and now expects 2025 broadband subscriber declines to exceed 2024 following results that “reflect the challenging broadband environment for Comcast.” The company plans a more aggressive posture in wireless while keeping revenue growth “its north star” and shares are discounting a lot of risk, but visibility into improving growth is “low,” the analyst tells investors.