Shares of Comcast Corp. (NASDAQ: CMCSA) were up today after the media giant announced that it would hike its share buyback authorization to $20 billion, effective as of September 13.
The authorization will not have an expiry date. So, far, this year, Comcast has repurchased its Class A common stock worth $9 billion.
Is Comcast a Good Stock to Buy?
Analysts remain cautiously optimistic about Comcast with a Moderate Buy consensus rating based on 11 Buys, eight Holds, and three Sells.
CMCSA’s average price prediction of $46.13 implies that the stock has an upside potential of around 37.8%.
