KeyBanc Capital Markets downgraded Comcast to Underweight and cut its price target to $18, implying roughly 19% downside from the stock's latest close. Analyst Brandon Nispel expects Comcast's domestic broadband net losses to widen to 665,000 in 2027, far worse than the consensus estimate for a 482,000 decline, as rivals offer 1-gigabit internet plans for roughly $30 to $40 per month. Cable and connectivity EBITDA may also struggle to recover as quickly as investors expect, with Comcast describing 2026 as a year of investment amid what it calls the largest cost transformation in company history. Universal attendance weakened through August, with total attendance down 3% year over year and Epic Universe's average daily attendance falling to roughly 13,000 from 16,000 in July. Nispel also sees limited upside from Comcast's planned NBCUniversal spin-off, arguing deteriorating fundamentals and reduced share-repurchase support could offset the potential benefits.
Comcast CorpKeyBanc downgraded Comcast to Underweight and cut its price target to $18 on expectations of widening broadband losses.
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