5 Stocks to Buy to Profit from Post-COVID Economic Recovery

3. Comcast Corporation (NASDAQ: CMCSA)

Number of Hedge Fund Holders: 88

Comcast Corporation (NASDAQ: CMCSA) is a telecommunications firm with significant stakes in the broadcast and entertainment businesses. It is ranked third on our list of 10 stocks to buy to profit from post-COVID economic recovery. The stock has returned 45% to investors in the past year. The firm recently launched the Peacock internet streaming platform which has already signed a deal with Amazon Fire TV for distribution. Comcast has a market capitalization of over $250 billion. 

On April 20, investment advisory Oppenheimer upgraded Comcast Corporation (NASDAQ: CMCSA) stock to Outperform from Perform with a price target of $75 on the back of growth outlook for the firm as the COVID-19 pandemic waned. 

Out of the hedge funds being tracked by Insider Monkey, New York-based firm Eagle Capital Management is a leading shareholder in Comcast Corporation (NASDAQ: CMCSA) with 38 million shares worth more than $2 billion. 

In its Q1 2021 investor letter, Nelson Capital Management, an asset management firm, highlighted a few stocks and Comcast Corporation (NASDAQ: CMCSA) was one of them. Here is what the fund said:

“Comcast is the Largest cable provider in the U.S. and is the dominant internet access provider in the markets it serves. Though Comcast will likely see further declines in cable subscriptions due to ongoing cord-cutting, it should be able to off set that lost revenue by growing internet access customers and instituting higher pricing. The pandemic has increased the importance of a fast internet connection, with more content streaming to homes at increasingly higher quality. Comcast made significant upgrades early on, allowing it to quickly deploy new technology and increase speeds to meet the evolving needs of its customers.”