Bank of America/Merrill Lynch reported on Thursday that it has raised its price target on communications company, Comcast Corporation (CMCSA).
The firm, which currently has a “Buy” rating on CMCSA, has increased the company’s price target to $60. This price target suggests a 32% increase to the stock’s current price of $40.59.
Analysts have raised their rating on the company based on the acquisition of the remainder of NBCUniversal. Comcast, which owned 51% of NBCU purchased the remaining 49% of the company from General Electric (GE) in February. The firm sees this full ownership as a growth opportunity for CMCSA.
Comcast shares were mostly flat during premarket trading Thursday. The stock has increased 36% in the past year.
The Bottom Line
Shares of Comcast Corporation (CMCSA) have a 1.92% yield, based on Wednesday’s closing price of $40.59.
Comcast Corporation (CMCSA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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