Comcast: NBCU Deals Spurs Upgrades

Fri, 4 Dec 2009 16:02:42 +0000

In something of a surprise, the news that Comcast (CMCSA) really is going to buy control of NBC Universal from General Electric (GE) has actually triggered a flurry of analyst upgrades. (But at least one downgrade.) Here’s a rundown: Frank Louthan, Raymond James : He upgraded the stock to Outperform from Market Perform , with a price target of $19. “We believe the overhang on Comcast shares has lifted following its long-awaited media acquisition,” he writes. “We believe Comcast was able to purchase the network at a good time, given the depressed valuations.” He adds that, “over the longer term, we believe cable has better growth prospects than other areas of telecom,” which should “drive investment demand.” John Hodulik, UBS : He ups his rating to Buy, from Neutral , with a target of $18. He contends that the deal will be accretive to both EPS and free cash flow. “While we do not anticipate significant synergies, the deal ...

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Comcast Boosts Dividend By 40%

Thu, 3 Dec 2009 14:44:57 +0000

Comcast (CMCSA) , which this morning announced a long-expected deal to gain control of NBC Universal , also announced a 40% dividend increase, boosting its annual payout to 37.8 cents from 27 cents. The quarterly rate is now 9.45 cents, up from 6.75 cents. The company also said it plans to complete its current $3.6 billion stock-repurchase plan over the next 36 months. Comcast CEO Brian Roberts said in a statement that the higher dividend and the buyback plan “reflects our confidence in the strength of our business, our financial position and our capacity for continued significant free cash flow generation.” CMCSA is up 80 cents, or 5.4%, to $15.74.

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Comcast: NBCU Deals Spurs Upgrades

Comcast Boosts Dividend By 40%