Nomura Securities Raises PT on Comcast (CMCSA)

Nomura Securities Raises PT on Comcast (CMCSA)


Nomura Securities reported on Tuesday that they have increased their price target on cable operator, Comcast Corporation(CMCSA).

The firm has reaffirmed their “Buy” rating on CMCSA, and has raised its price target from $40 to $44. This price target suggests a 12% increase from the stock’s current price of $39.07.

Analysts view the company as well able to accumulate cash from their cable business, which could be used to fund dividends and buybacks. Long term, analysts believe that Comcast will need to grow their NBC Universal Business in order to continue to see growth within the company. Comcast has been considering an acquisition of GE’s stake in NBC Universal.

A Normura Securities analyst noted, “if Comcast and GE were to negotiate an earlier exit, the low leverage Cable could be used to fund the full buyout. The resulting Comcast would have a manageable 1.6x net Debt/EBITDA and generate nearly 9.4bn in fully taxed FCF in 2015.”

Comcast shares were mostly flat during Tuesday morning trading. The stock has increased 54% in the past year.

The Bottom Line
Shares of Comcast (CMCSA) have a 1.66% dividend yield, based on last night’s closing stock price of $39.11. The stock has technical support in the $36 price area. The stock is trading at all-time highs.

Comcast Corporation(CMCSA) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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