It was good news for communications giant Comcast (CMCSA), as a new trade deal with China put some life back into the stock. New plans, canceled shows, and the secret value of apartment complexes and homeowners’ associations did not hurt matters much either. And amid it all, shareholders bumped up value in Comcast, sending shares up modestly in Monday afternoon’s trading.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Comcast managed to land a bump in its share price following the announcement of a new trade deal between China and the United States that transformed three-figure tariffs into low-to-moderate two-figure tariffs instead. A range of entertainment companies saw shares spike as a result, including Disney (DIS) and Warner Bros. Discovery (WBD), among others.
Reports of a new plan for small business customers likely did not hurt matters either, as reports noted that Comcast rolled out Unlimited Premium Flex. With this program, users get unlimited 5G data, an extra forty gigabytes of 5G data for mobile hotspot use, access to 4K streaming video, spam call blocking features, and two phone upgrades per year. All of that is available at the same price as Unlimited Premium, which marks a rare circumstance: getting more despite paying the same.
The Unexpected Value of Apartments
A new report out showed off an unexpected win for cable television providers, particularly those like Comcast: apartment buildings. As it turns out, reports note, cable providers have been setting up quiet deals with apartment buildings, as well as some subdivisions with homeowners associations (HOAs), in a bid to lock their residents into cable plans that they have no option to refuse. With over 355,000 HOAs in the United States alone, that represents a substantial quantity of homes, and potentially, a quarter or more of most cable company subscriber rates.
And, just to top it off, two series are now out at NBC, Comcast’s flagship broadcast platform. Three years turned out to be enough for the Night Court reboot, as it is now adjourned for good. NBC also ditched Lopez vs. Lopez, and prepares for its own upfront presentation later today.
Is Comcast Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on CMCSA stock based on nine Buys, nine Holds and two Sells assigned in the past three months, as indicated by the graphic below. After a 13.73% loss in its share price over the past year, the average CMCSA price target of $40.62 per share implies 17.08% upside potential.
