Benchmark Reiterates Buy Rating on Comcast Corp (CMCSA)

Benchmark analyst Matthew Harrigan reiterated a Buy rating and $48.00 price target on Comcast Corp (NASDAQ: CMCSA).

The analyst commented, "We maintain a Buy rating and $48 price target on CMCSA while deferring realization into next year – with a potential raft of 2H26 performance improvements especially for Connectivity & Platforms. Although 3Q25 commentary on October 30th will largely offer only early reads, focal points include 1) nascent progress in migrating Xfinity's 31.5M broadband base to new product and pricing constructs and 2) any sense on potential ARPU growth enhancements after a mild moderation (still ~2.5% growth) attributable to implementing the new go-to-market strategy. This is especially apropos for stimulating Xfinity Mobile penetration with no major positive benefits until 2H26 especially from monetizing new customers off an initial single free line offer with ample up-migration likelihood. Content & Experiences (NBCUniversal) growth should benefit even in a possibly lagging 2H25 economy from gradually ramping Epic Universe KPIs (incremental attendance, per-caps, ADR/occupancy, premium attach) as well as the recently opened Las Vegas horror attraction. Financial engineering events include the yearend Versant cable network spin, with a Form 10 dated as of 9.18.25 and progress on the Sky Germany sale to RTL Group, in tandem helping advance Comcast's revenue mix to 70% high and moderate growth businesses. Given established rapport between Brian Roberts and new co-CEO Michael Cavanagh, a growth reacceleration aspiration would be to mirror the Netflix (followed by Dan Kurnos) partnership between Ted Sarandos and Greg Peters."

For an analyst ratings summary and ratings history on Comcast Corp click here. For more ratings news on Comcast Corp click here.

Shares of Comcast Corp closed at $29.99 yesterday.

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