Comcast price target raised to $47.75 from $47.25 at Scotiabank

Scotiabank analyst Maher Yaghi raised the firm’s price target on Comcast (CMCSA) to $47.75 from $47.25 and keeps a Sector Perform rating on the shares. The firm continues to have a positive view on U.S. telecoms, saying the industry remains supported by healthy subscriber loading dynamics and positive pricing trends. The industry is also benefiting from lower interest rate expectations with continued positive money flow into the sector, the analyst tells investors in a research note. Scotiabank believes the setup in wireless is “especially bullish” with low industry churn, improving average revenue per user dynamics, low handset subsidization combined with declining capex spend. However, Valuations have moved up since earlier this year, it adds.