Goldman Sachs lowered the firm’s price target on Comcast (CMCSA) to $44 from $50 and keeps a Buy rating on the shares. The company’s Q4 domestic broadband missed lowered expectations due to a weaker-than-expected December, and the management is now more aggressively using wireless as a tool to drive subscriber acquisition and retention, resulting in near-term margin headwinds from elevated direct product costs, the analyst tells investors in a research note. Goldman adds that it is cutting its 2025 broadband ARPU – average revenue per user – growth to 3.0% vs. 3.4% prior due to Comcast’s strategic shift to emphasize converged product bundles aimed at its high end consumer base.
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