- The shares of Comcast Corporation (NASDAQ: CMCSA) have received a $50 price target from Truist. These are the details.
The shares of Comcast Corporation (NASDAQ: CMCSA) have received a $50 price target from Truist. And Truist Securities analyst Greg Miller downgraded Comcast from a “Buy” rating to a “Hold” rating.
“We now expect slower than pre-pandemic HSD gains as conditions normalize for CMCSA and CHTR but less so for CABO,” wrote Miller in a research note. “While we have believed the recent weakness in HSD cable additions to be a function of the pull-forward of demand, we also increasingly believe a return to historic growth trends will be increasingly challenged. Although the financial impact to 2022 and 2023 financial results is not material, we believe the fundamental change to the operating environment will cause industry valuations to re-rate lower.”
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