Comcast Stock Snags Price Target Cut Following 11% Decline On Q4 Results But Retail Sees ‘Historical’ Buying Opportunity

A Comcast Corp. (CMCSA) analyst reduced the price target for the stock following the media and technology company’s quarterly results but retail sentiment was upbeat.

Goldman Sachs analysts reduced the price target for Comcast stock to $44 from $50 and maintained a ‘Buy’ rating. The updated price target suggests roughly 32% upside potential.

The firm noted that the fourth-quarter domestic broadband missed expectations due to a weaker-than-expected December. 

The brokerage also said that Comcast management is now more aggressively using wireless as a tool to drive subscriber acquisition and retention. Therefore, it expects near-term headwinds stemming from elevated direct product costs.

As such, the firm lowered the 2025 broadband average revenue per user growth estimate to 3% from 3.4% due to Comcast’s strategic shift to emphasize converged product bundles aimed at its high-end consumer price.

Philadelphia, Pennsylvania-based Comcast reported Thursday before the market opened fiscal year 2024 fourth-quarter adjusted earnings per share (EPS) of $0.96 and revenue of $31.92 billion, up 2.1% year-over-year (YoY). Both metrics exceeded expectations.

The stock fell 11% on Thursday as total domestic broadband customers fell by 139,000 YoY in the fourth quarter, and the Peacock streaming business’ subscriber count, at 36 million, was flat with the previous quarter. 

On Stocktwits, sentiment toward Comcast stock stayed ‘bullish’ (59/100) but message volume tempered to ‘normal’ levels. 

A retail watcher on the platform called Thursday’s post-earnings sell-off a “historical” buying opportunity.

Another lamented the stock price decline despite the strong quarterly performance, the $15 billion stock buyback and the opening of the Epic Universe in the summer.

A third user predicted $40+ level for the stock in three months.

Comcast stock has lost nearly 11% this year on top of 12% drop in 2024.

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