Comcast upgraded to Overweight on cable setup at KeyBanc

KeyBanc last night upgraded Comcast to Overweight from Sector Weight with a $44 price target. The analyst believes the near-term setup in cable and wireless is most attractive for cable. Estimates are de-risked, macro and competitive data points are improving, and stock valuations "can likely revert to mean" as comfort toward the competitive environment improves, the analyst tells investors in a research note. The firm favors "inexpensive, lower leverage" names and sees company-specific catalysts for specific names.