5 Best Telecom Stocks to Buy Right Now

2. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 75     

Comcast Corporation (NASDAQ:CMCSA) operates as a media and technology company worldwide. The company is one of the most prominent communication stocks to invest in. On September 20, the company announced that it had succeeded in the test of a new technology that it wants to use to deploy multi-gigabit symmetrical speeds throughout its entire broadband network. The company had previously completed successful tests of the 10G network and a complete network-to-home 10G loop. 

On September 29, Barclays analyst Kannan Venkateshwar maintained an Equal Weight rating on Comcast Corporation (NASDAQ:CMCSA) stock and lowered the price target to $34 from $42, noting that cable headline metrics heading into 2023 may be worse than telecom. 

Among the hedge funds being tracked by Insider Monkey, New York-based firm First Eagle Investment Management is a leading shareholder in Comcast Corporation (NASDAQ:CMCSA), with 30 million shares worth more than $1.2 billion.

In its Q4 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Comcast Corporation (NASDAQ:CMCSA) was one of them. Here is what the fund said:

“Weakness among our holdings in the communication services sector was the other detractor to performance.Comcast Corporation (NASDAQ:CMCSA) was hurt by tepid subscriber growth in its broadband business but demonstrated strong growth in free cash flow, positioning the company for accelerated capital return going forward.”