Comcast price target lowered to $48 from $53 at Citi

Citi lowered the firm’s price target on Comcast to $48 from $53 and keeps a Buy rating on the shares. The company’s Q1 results and management outlook highlighted a few headwinds in some of the strategic areas for future growth, the analyst tells investors in a research note. The firm says Comcast’s broadband volume losses are wider than previously anticipated from a combination of slowing residential industry growth, ongoing competition, negative seasonality in Q2 and more recent small business competition.