Analyst Benjamin Swinburne from Morgan Stanley maintained a Hold rating on Comcast and decreased the price target to $32.00 from $35.00.
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Benjamin Swinburne has given his Hold rating due to a combination of factors impacting Comcast’s financial outlook. Despite Comcast’s shares trading at a significant discount compared to its peers, concerns about ongoing losses in broadband market share and insufficient growth in the mobile segment have influenced this rating. The company’s financial results are expected to face further pressure, with adjusted EPS projections being lowered for 2026 and 2027 due to ARPU challenges in both mobile and broadband sectors.
Comcast is actively working to improve its market position by revising pricing strategies and restructuring leadership within its cable division. However, these changes are anticipated to yield results only in the longer term, with growth potentially resuming by 2027. Despite the risks being factored into the current share price, the expectation of declining EBITDA through mid-2026 suggests limited potential for significant valuation expansion in the near term. Therefore, Swinburne maintains a cautious stance with a Hold rating, acknowledging both the downside risks and the potential upside if strategic initiatives prove successful.
In another report released today, Bank of America Securities also reiterated a Hold rating on the stock with a $31.00 price target.