Comcast Stock Upgraded: What You Need to Know
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
Cable giant Comcast (NASDAQ: CMCSA) reported its Q2 2019 earnings a little more than a month ago, and investors still seem pretty pleased with the results (shares are up 4% in the six weeks since).
And rightly so. Comcast grew its revenue 24% year over year last quarter to $26.9 billion, with adjusted profits up just a bit slower than that -- 13%. Cable TV continues to be a bit of a drag on the business, but as the company shifts its focus toward adding subscribers of any form -- and in particular, to attracting cable TV cord-cutters with its internet-only offerings -- net new "relationships" with customers expanded by 152,000 in the quarter. This led my Fool.com colleague Nicholas Rossolillo to conclude at the time that "at a reasonable 14.5 times trailing 12-month free cash flow and a dividend yielding 1.9% a year, there's a lot for investors to like about Comcast stock."
Source Fool.com
