Comcast Shares Tank 7% Since Monday: Market Reaction To Q4 Subscriber Loss Guidance Is ‘Overdone,’ Says Bullish Analyst
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Comcast Corp (NASDAQ:CMCSA) plans to spin off its cable networks into a new company.
The stock declined by 9% since Monday after management guided to “a marginal competitively driven increase in Broadband subscriber losses” and the shares are currently “oversold,” according to Seaport Research Partners.
Analyst David Joyce upgraded the rating for Comcast from Neutral to Buy, while maintaining the price target at $46.
The Comcast Thesis: Comcast Cable’s CEO indicated that broadband competition had intensified and guided to a net loss of 100,000 subscribers in the fourth quarter of …
Full story available on Benzinga.com
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