MoffettNathanson notes that it has been “a challenging year for Comcast’s (CMCSA) investors” as shares have underperformed the S&P 500 by 24 percentage points, but sees “reasons for optimism as we look to 2025.” The company’s announcement today that they will consider spinning off legacy cable programming networks is “a very welcome development,” it is very likely that today’s report of 87,000 broadband subscriber losses marks the bottom for net adds, Peacock’s losses have likely also peaked, and the firm continues to believe estimates for the Epic Universe theme park, which opens next May, are too low, the analyst tells investors. The firm has a Buy rating and $57price target on Comcast shares.
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