Comcast price target lowered to $40 from $46 at TD Cowen

TD Cowen analyst Gregory Williams lowered the firm’s price target on Comcast (CMCSA) to $40 from $46 and keeps a Buy rating on the shares. The firm said they posted good enough 3Q25 results with better-than-feared broadband losses, in-line EBITDA, and upside FCF. However, management cautioned continued of ARPU and EBITDA pressures through the broadband pivot for muted buybacks.