BofA analyst Jessica Reif Ehrlich lowered the firm’s price target on Comcast (CMCSA) to $31 from $36 and keeps a Neutral rating on the shares. Comcast delivered “generally better than forecast” Q3 results, including a smaller-than-expected broadband net sub loss than forecast, but higher investments and changes to pricing and packaging pressured broadband ARPU, the analyst noted. Management indicated this investment phase will continue and the firm accordingly is lowering broadband ARPU estimates for Q4 and 2026, noting that it is now expecting year-over-year ARPU declines in every 2026 quarter.
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