Goldman Sachs analyst Michael Ng raised the firm’s price target on Comcast (CMCSA) to $50 from $46 and keeps a Buy rating on the shares. The company reported better than expected Q3 results thanks to a beat on Broadband and operating expenditure, while the management has also indicated it is evaluating a spin-off of its cable network assets, which could potentially be combined with Paramount’s cable networks, which could help drive a valuation re-rating, the analyst tells investors in a research note.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CMCSA:
- Comcast upgraded to Outperform from Sector Perform at Scotiabank
- Comcast price target raised to $54 from $47 at Pivotal Research
- MoffettNathanson sees ‘reasons for optimism’ on Comcast looking to 2025
- Comcast (NASDAQ:CMCSA) Looks to Drop Its Cable Business
- Microsoft reports Q1 beat, Comcast weighs cable networks spinoff: Morning Buzz