Comcast Corp


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SKU: CMCSA Category:


Comcast continues to be an undervalued media conglomerate given the negative perception associated with the struggling business of NBCUniversal’s theme parks and movies. The company has had a strong 2021 so far with a strong growth of 354,000 net new broadband internet connections in the quarter, bringing the total up to 31.4 million. The company also added 280,000 wireless phone subscribers as it continues to rely on Verizon’s network. While the company’s cable TV business continues to suffer from a declining subscriber base, its streaming platform, Peacock has recently crossed the 50-million threshold and has 54 million users with a huge jump coming from the recent deal to stream the Olympics. This subscriber base is only expected to grow especially after the company launches Peacock in Europe via Sky. Despite its fair share of upsides, Comcast is trading at a heavy conglomerate discount and we give it a ‘Buy’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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