Comcast Corporation (NASDAQ: CMCSA) shares are trading lower after Wells Fargo maintained an Underweight rating on the stock and lowered its price target from $49 to $46.
Wells Fargo analyst Steven Cahall stated ‘We’ve taken a more cautious stance on the broader Cable sector as we think net adds will slow and capital intensity will be more elevated, resulting in lower future earnings.’
Cahall also noted ‘We think CMCSA is a risky stock because if we’re right on Cable then the internet slowdown could happen amidst NBCU’s expensive multi-year pivot towards streaming.’
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments.
Comcast’s stock is trading about 3.55% lower at $55.37 per share on Friday at the time of publication.
Latest Ratings for CMCSA
|
Oct 2021 |
Wells Fargo |
Maintains |
Underweight |
|
|
Sep 2021 |
Exane BNP Paribas |
Initiates Coverage On |
Outperform |
|
|
Sep 2021 |
Loop Capital |
Initiates Coverage On |
Buy |
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