Scotiabank Upgrades Comcast: Analysts Predict Increased Stock Potential
On November 1, 2024, Scotiabank raised Comcast’s (LSE:0QYF) rating from Sector Perform to Sector Outperform.
Market Analysts See Potential for Growth
As of October 22, 2024, Comcast’s average one-year price target is set at 64.85 GBX/share. Forecasts for the shares vary, with a low estimate of 48.48 GBX and a high of 82.07 GBX. This average price target indicates a potential increase of 12.78% from the latest closing price of 57.50 GBX/share.
Revenue Projections and Performance Metrics
Comcast is projected to generate an annual revenue of 127,528MM, marking an increase of 3.62%. The expected annual non-GAAP EPS is 4.23.
Fund Sentiment: Tracking Institutional Investments
Currently, 3,710 funds report holding positions in Comcast. This number reflects a decrease of 90 funds, or 2.37%, over the past quarter. The average weight of Comcast in these funds is 0.57%, which has increased by 2.95%. Total shares owned by institutions have fallen by 0.96% in the last three months to 3,892,306K shares.
Capital World Investors owns 128,148K shares, which accounts for 3.32% of the company. This represents an increase of 9.71% from their previous count of 115,703K shares. However, their portfolio allocation in Comcast has decreased by 1.43% in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 123,606K shares, translating to a 3.20% ownership. This is a decrease of 0.74% from 124,518K shares previously owned. Their allocation in Comcast fell by 12.80% this quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 100,460K shares, representing 2.60% of the company. They saw a slight increase of 0.61% from 99,846K shares last reported, but their portfolio allocation decreased by 13.96% over the quarter.
JPMorgan Chase owns 86,410K shares, a 2.24% stake, showing a decrease of 12.71% from their previous holding of 97,397K shares. Their portfolio allocation in Comcast has notably declined by 22.17% over the past quarter.
Geode Capital Management holds 85,791K shares, which is 2.22% of the company, reflecting an increase from 83,684K shares earlier. However, their portfolio allocation in Comcast decreased by 12.13% this quarter.
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