Macquarie Believes Comcast (NASDAQ: CMCSA) Still Has Room to Grow

By Austin Angelo

In a report released today, Amy Yong from Macquarie reiterated a Buy rating on Comcast (NASDAQ: CMCSA), with a price target of $45. The company’s shares opened today at $39.09, close to its 52-week high of $40.62.

Yong said:

“We got back from the NBCU upfront with a refreshed view on the growing portfolio that now includes digital assets like Vox, BuzzFeed, and Snapchat, as well as partnerships with Apple. Meanwhile, its core franchises in news and sports continue to grow stronger. Our SoTP valuation prices standalone NBCU at US$19/sh (Fig 1), likely a source of upside to our US$45/sh CMCSA target. Please also see our 1Q recap, Weighing Baggage & Opportunities. Impact The collaborative culture of NBCU spearheaded by Project Symphony has driven it to #1, while the addition of digital platforms pushed engagement. This year, we expect the strategy is in full swing, driving our ’18 NBCU total revenue growth of 10%, which assumes 14%/7% for broadcast/cable nets.”

According to TipRanks.com, Yong is a 4-star analyst with an average return of 8.3% and a 58.6% success rate. Yong covers the Services sector, focusing on stocks such as Liberty Global PLC LiLAC Class A, Live Nation Entertainment, and Madison Square Garden Co.

Currently, the analyst consensus on Comcast is Strong Buy and the average price target is $44.11, representing a 12.8% upside.

In a report issued on May 1, RBC Capital also reiterated a Buy rating on the stock with a $45 price target.

The company has a one year high of $40.62 and a one year low of $29.81. Currently, Comcast has an average volume of 15.38M.

Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is neutral on the stock. Most recently, in September 2015, Lawrence Salva, the EVP & CAO of CMCSA sold 13,013 shares for a total of $745,595.

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