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Comcast Pitches Set-Top Box Software To Smart TV Makers – Report
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Comcast Pitches Set-Top Box Software To Smart TV Makers – Report

Comcast Corporation is in talks with smart TV manufacturers to use the cable company’s X1 set-top box operating software in new TV sets, tech website Protocol reported on Friday citing anonymous industry sources.

According to the Protocol report, Comcast (CMCSA) started pitching TV manufacturers on the idea in recent months and had some conversations on the subject at CES (Consumer Electronics Show) in January. It’s unclear how far these talks have progressed, but the push underlines the growing importance of smart TVs as a major platform for the future of entertainment, according to Protocol.

On Aug. 3, Deutsche Bank analyst Bryan Kraft lifted the stock’s price target to $53 (19% upside potential) from $47 and reiterated a Buy rating citing Comcast’s strong customer growth, cable margins, and cable capital intensity.

Earlier, Comcast reported better-than-expected 2Q results driven by strong growth in high-speed internet subscriber base. The cable company’s revenues of $23.72 billion surpassed analysts’ expectations of $23.66 billion. Its adjusted EPS of $0.69 also beat Street estimates of $0.55. During the quarter, the company added 323,000 net new high-speed internet customers. (See CMCSA stock analysis on TipRanks).

Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 10 Buys and 4 Holds. With shares down about 1% year-to-date, the average price target of $47.92 implies upside potential of 7.5% to current levels.

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