Comcast price target raised to $54 from $50 at Credit Suisse

Credit Suisse analyst Douglas Mitchelson raised the firm’s price target on Comcast to $54 from $50 and keeps an Outperform rating on the shares after the company turned in a clean beat across the board. While the climate of flattish broadband volumes driven by tepid home moving and palpable but “rational” FWA competition continues, Comcast stabilized its two year fade in net adds with Q2 2023 approximately even with Q2 2022 – a dynamic which Credit Suisse expects continues in Q3 2023. Overall, Comcast’s Q2 results have increased investor visibility for this year’s outlook, successfully balancing organic growth investments with shareholder returns on the way to 2024’s DOCSIS 4.0, Olympics/political advertising and Peacock growth tailwinds, the firm argues.