BofA Boosts Comcast (CMCSA) Price Target Amid Media Asset Reorganization

Comcast Corporation (NASDAQ:CMCSA) ranks among the stocks with the lowest forward PE ratios. On January 12, BofA upgraded Comcast Corporation (NASDAQ:CMCSA) to Buy from Neutral and boosted its price target to $37 from $31, stating that the media conglomerate is getting near the time to unlock value at NBCUniversal as merger activity continues and investors reevaluate their media investments.

BofA stated that Comcast’s media operations have been dragged low for years by a conglomerate discount, which it expects to keep depressing the shares. That discount could shrink as Comcast Corporation (NASDAQ:CMCSA) broke off its linear cable networks and showed a greater willingness to make strategic partnerships.

According to BofA, removing the secularly falling linear assets renders NBCUniversal easier to sell and increases strategic versatility, while also highlighting the asset’s high value but sub-scale nature.

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

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