- RBC Capital analyst Steven Cahall upgraded the rating on Comcast Corp (NASDAQ:CMCSA) to Outperform, from Sector Perform, with a $60 price target, suggesting an upside of 18%.
- Cahall stated that the recent 19% sell-off since early August is overdone.
- "While we acknowledge that telco fiber and fixed wireless will pressure Comcast's fundamentals, our analysis suggests concerns over the impacts to subscriber growth have been overblown," Cahall noted.
- Cahall added that Comcast would likely keep investing in Peacock, which Cahall said he is "encouraged" by how the company is rolling out the streaming service in different countries.
- Price Action: CMCSA shares traded higher by 2.35% at $50.90 on Monday's last check.
