Comcast price target lowered to $47 from $48 at Pivotal Research

Pivotal Research lowered the firm’s price target on Comcast to $47 from $48 and keeps a Buy rating on the shares. The company reported a better-than-expected Q2 cable result and a moderately worse than expected content result mainly driven by material weakness at theme, and the firm found the stock’s immediate underperformance “puzzling”, the analyst tells investors in a research note. Weak theme park results and outlook were likely responsible for the downside, but theme parks only represent 7% of Comcast’s revenue and EBITDA, Pivotal added.