TD Cowen Backs Comcast (CMCSA) on Strong Q2 and Diversified Growth

Comcast Corp. (NASDAQ:CMCSA) is one of the best defensive stocks to invest in according to analysts. On August 1, TD Cowen analyst Gregory Williams reiterated his Buy rating on Comcast and raised the price target to $46 from $45, following the company’s better-than-expected second-quarter results.

Williams pointed to solid, better-than-expected performance across key metrics, including EBITDA, free cash flow, and mobile subscriber growth. He noted that Comcast’s broadband business is starting to show signs of stability, with improving trends in subscriber connections and churn, even as competition remains intense.

Comcast’s growth is being driven by several business lines. Its broadband and mobile segments continue to perform well, and its streaming operations are making meaningful contributions. The analyst believes that these areas give the company multiple paths to sustain revenue growth over the coming years.

The analyst also highlighted Comcast’s strong financial footing. Among the most notable financial health metrics highlighted were the company’s healthy balance sheet, ongoing share repurchases, consistent dividend payouts, and expected tax-related benefits.

Although it’s still early to gauge the full impact of Comcast’s recent strategic initiatives, Williams sees the initial results as encouraging. In addition, the combination of operational momentum and sound financial management supports his positive outlook on the stock.

Comcast Corp. (NASDAQ:CMCSA) is a global media and technology company that delivers broadband, wireless, video, and voice services, distributes and streams entertainment, sports, and news, and operates Universal theme parks.

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