Scotiabank Upgrades Comcast (CMCSA) PT to $45.50, Keeps Sector Perform Rating

Comcast Corporation (NASDAQ:CMCSA) is one of the most promising stocks under $100. On October 8, Scotiabank analyst Maher Yaghi raised the firm’s price target on Comcast to $45.50 from $45, while maintaining a Sector Perform rating on the shares.

Scotiabank expects results for the Telecom, Media, and Technology sector to be broadly in line with consensus. In Q2, Comcast delivered results with $4.5 billion in free cash flow and a 3% increase in adjusted EPS to $1.25, on the back of 2% year-over-year revenue growth.

The performance was driven by the company’s core growth businesses (broadband, wireless, business services, parks, streaming, and studios), which collectively represent ~60% of total revenue and grew at a high single-digit rate. Management expects this exposure to growth areas to increase to 70% over the next few years as the company focuses on reaccelerating total revenue growth.

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

While we acknowledge the potential of CMCSA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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