Comcast price target raised to $54 from $47 at Pivotal Research

Pivotal Research raised the firm’s price target on Comcast (CMCSA) to $54 from $47 and keeps a Buy rating on the shares. Comcast reported “across the board a materially better-than-expected” Q3, highlighted by evidence that cable data losses may be bottoming out, the analyst tells investors in a research note. The firm says Comcast also announced it is considering spinning out its cable network businesses to shareholders, which it would view positively, saying “clearly that is a structurally tough business and in need of consolidation.”