Comcast Poised For Value Growth - Citi Analyst Is Bullish On Potential Shareholder Returns
Portfolio Pulse from Anusuya Lahiri
Citigroup analyst Michael Rollins is bullish on Comcast Corp (NASDAQ:CMCSA), maintaining a Buy rating and raising the price target from $51 to $53. Rollins' optimism is based on Comcast's strong fourth-quarter FY23 results, which surpassed consensus estimates, and the company's increased dividend and new $15 billion share repurchase program. He anticipates revenue growth to be weighted towards the second half of the year due to the Olympics and elections, and expects broadband revenue growth from targeted ARPU expansion. Despite a slight negative expectation for subscriber volumes, Comcast is seen as well-positioned to improve value over the next 12 months, especially with its solid Cable financials and under-appreciated Content and entertainment segment.
January 30, 2024 | 6:31 pm
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NEUTRAL IMPACT
Comcast's broadband revenue growth is expected despite T-Mobile US, Inc's anticipated pull-back in quarterly FWA gains.
T-Mobile is mentioned in the context of the broader market and Comcast's performance. While it may have an indirect impact on T-Mobile's competitive landscape, the news is primarily focused on Comcast and does not directly suggest a significant short-term impact on T-Mobile's stock.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Citigroup analyst maintains a Buy rating on Comcast and raises the price target to $53, citing strong Q4 results, increased dividend, and a new share repurchase program.
The positive sentiment from the Citigroup analyst, combined with Comcast's strong financial performance and shareholder-friendly actions such as dividend increase and share buyback, are likely to contribute to a positive short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100