(CercleFinance.com) – Wells Fargo raised its recommendation on Comcast stock on Monday from ‘underweight’ to ‘online weight’, with a price target revised upwards from 30 to 38 dollars.
In a research note, the broker now explains that it is less pessimistic about the American group’s cable operator activities.
‘We had long been shorts on Comcast stock, but many of the factors behind our negative view have now materialized, starting with the downgrading of the cable business amid increased competition for fixed wireless access ( FWA) (Internet access process from a mobile network, Editor’s note) and fiber optics,’ he explains.
If he says he is more negative today on NBCUniversal, the group’s media division, Wells Fargo considers that the Comcast title now presents a reduced level of risk, with an intrinsic value that it places around 38 dollars.
Copyright © 2022 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
