Comcast price target lowered to $32 from $38 at RBC Capital

RBC Capital lowered the firm’s price target on Comcast (CMCSA) to $32 from $38 and keeps a Sector Perform rating on the shares. The company has introduced a new strategy aimed at improving its subscriber trajectory, though with that said, the material subscriber improvement is far from certain ARPU and EBITDA pressures in the near-term force a reset of expectations, the analyst tells investors in a research note.