Here’s What Wells Fargo Thinks About Comcast Corporation (CMCSA)

Comcast Corporation (NASDAQ:CMCSA) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. Wells Fargo cut the price target on Comcast Corporation (NASDAQ:CMCSA) to $28 from $29 on July 7 and maintained an Underweight rating on the shares. The firm stated that the company appears to be undervalued pro forma for the separation. However, Wells also believes that investors are incorrectly focused on Media M&A vs. Cable, and that the timing for more deals is uncertain. The firm stated that fundamentals on the call will skew slightly negative between broadband and Parks.

Comcast (CMCSA) Looks Oversold: Here’s Why Dividend Investors Should Take a Second Look

Comcast Corporation (NASDAQ:CMCSA) also received a rating update from Rosenblatt on June 30. The firm upgraded the stock to Buy from Neutral, adjusting the price target to $31, up from $24. The same day, Deutsche Bank also upgraded Comcast Corporation (NASDAQ:CMCSA) to Buy, citing the “surprise news” of the company’s plans to spin NBC Universal off into a separate company for the upgrade. The firm told investors in a research note that the stock is “so diminished” after dropping 50% in five years that even a moderate change in media valuation can be material.

Comcast Corporation (NASDAQ:CMCSA) provides internet, video, and phone services. The company’s operations are divided into the following segments: Residential Connectivity and Platforms, Business Services Connectivity, Media, Studios, and Theme Parks.

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