BofA Upgrades Comcast (CMCSA) to Buy With $37 PT on Media Consolidation Trends

Comcast Corporation (NASDAQ:CMCSA) is one of the cheap S&P 500 stocks to invest in now. On January 12, Bank of America upgraded Comcast to Buy from Neutral with a price target of $37, which was brought up from $31. This sentiment comes as 2026 is expected to be a landmark year for media as the industry consolidates and pivots toward new digital and live experience strategies.

Additionally, on January 7, Scotiabank lowered its price target for Comcast to $37.50, down from the previous $41.50, while maintaining a Sector Perform rating on the shares. This adjustment came as the firm updated its valuations for telecom services in anticipation of Q4 2025 financial results. Scotiabank noted that the wireless industry experienced heightened promotional intensity during the recent holiday season. Despite increased competition, the firm pointed out that overall industry growth for both revenue and EBITDA remains positive as the sector moves into the new year.

BofA Upgrades Comcast (CMCSA) to Buy With $37 PT on Media Consolidation Trends

A day before that, Benchmark reduced its price target for Comcast Corporation (NASDAQ:CMCSA) to $44 from $46 to formally account for the completed spinoff of Versant Media Group Inc. (NASDAQ:VSNT). Despite the lower target, the firm maintained a Buy rating on the shares, and also adjusted its revenue and EBITDA estimates downward for 2026 and subsequent years to reflect the separation of the Versant business.

Comcast Corporation (NASDAQ:CMCSA) operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments.

While we acknowledge the potential of CMCSA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CMCSA and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.