Comcast price target lowered to $36 from $38 at BofA

BofA lowered the firm’s price target on Comcast (CMCSA) to $36 from $38 and keeps a Neutral rating on the shares. On the Content & Experiences side of the business, the firm expects Q3 Media EBITDA to benefit from a timing shift of Peacock’s exclusive NFL game, but adds that higher Media EBITDA would be partially offset by lower Theme Park estimates as attendance is still ramping at Epic. In Connectivity & Platforms, the firm is modestly raising its broadband net add estimate to a decline of 120,00 from a decline of 130,000 previously forecast, while maintaining its video and mobile sub decline estimates of 290,000 and 400,000, respectively.