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Comcast Has Opportunities To Improve Connectivity Cash Flow From Rising Mix Of Broadband Revenues: Citi Analyst

Published 29/03/2023, 20:21
© Reuters.  Comcast Has Opportunities To Improve Connectivity Cash Flow From Rising Mix Of Broadband Revenues: Citi Analyst
CMCSA
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Benzinga -

  • Citi analyst Michael Rollins maintained a Buy rating on Comcast Corp (NASDAQ: CMCSA).
  • The analyst expects Comcast to report relatively in-line 1Q23 results for the cable business as the company continues to navigate an ex-growth environment for cable broadband volume.
  • Rollins' outlook for NBCU is below consensus, given his expectation for ongoing headwinds from a softer macro and tough year-on-year comparisons.
  • On a consolidated basis, Rollins' outlook for EBITDA is about 40bps below consensus, while EPS outlook is above consensus.
  • The analyst forecast buybacks continued steadily through the quarter at ~$2 billion.
  • Rollins also updated his model to conform to the new segmentation while displaying how his outlook fits the prior segmentation.
  • The re-rating reflects opportunities to improve Connectivity cash flow from a rising mix of broadband revenues & incremental efficiency initiatives.
  • Price Action: CMCSA shares traded higher by 1.47% at $36.99 on the last check Wednesday.
Latest Ratings for CMCSA DateFirmActionFromTo
Mar 2022Truist SecuritiesDowngradesBuyHold
Jan 2022BarclaysMaintainsOverweight
Jan 2022Morgan StanleyMaintainsOverweight
View More Analyst Ratings for CMCSA

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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