Report
Jonathan Chaplin
EUR 9218.00 For Business Accounts Only

Comcast Post-3Q24 Model Update

In this note, we cover changes to our estimates, and comparisons with guidance and consensus. Please see separate notes reviewing results and thoughts following the earnings call. The most significant change was lower broadband losses in 4Q. We expect Consensus to lower broadband losses a touch also, but remain where they are on EBITDA. No change to thesis. Price target
is $50 (+15%).
Underlying
Comcast Corporation Class A

Comcast is a media and technology company. The company's segments are: Cable Communications, which provides internet, video, voice, and security and automation services in the United States individually and as bundled services at a discounted rate over its cable distribution system to residential and business customers; NBCUniversal, which includes a portfolio of national cable networks that provide a variety of entertainment, news and information, and sports content, regional sports and news networks, international cable networks, and cable television studio production operations; and Sky, which owns a portfolio of pay television channels that provide entertainment, news, sports and movies.

Provider
New Street Research
New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

  • Pan European Telecom Services and Cable
  • US Telecoms, Cable, Satellite and Towers
  • Global Emerging Market Telecoms
  • Japan Telecoms
  • Asian Internet
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  • Global healthcare thematic research

We provide debt research on:

  • Pan European Telecom Services and Cable


Analysts
Jonathan Chaplin

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