Rosenblatt Securities applauded growing profit margins
Media giant Comcast Corporation (NASDAQ:CMCSA) is 0.7% higher at $42 this morning, after scoring a fresh "buy" rating and $50 price target from Rosenblatt Securities. The firm cited the company's growing cable profit margins and broadband market share for the catalyst behind the bull note.
This type of analyst sentiment is far from unusual for CMCSA, however, as 25 of 32 covering brokerage firms sport a "buy" or "strong buy" recommendation. Further, the stock's average 12-month price target stands at $47.52 -- representing roughly 13% upside to current levels.
Comcast stock took off after touching a multi-month low of $32.61 in December, ultimately peaking at $43.96 in late April. The $44 region subsequently acted as a barrier for the shares -- limiting upside sparked by the company's decision to sell its Hulu stake to Walt Disney -- as this level represents CMCSA's all-time high tagged in January 2018. However, the stock has since pulled back to the $41 mark and its 80-day moving average.