Rosenblatt analyst Barton Crockett upgraded Comcast (CMCSA) to Buy from Neutral with a price target of $31, up from $24. Deutsche Bank also upgraded Comcast this morning to Buy. Rosenblatt cites the “surprise news” of Comcast’s plans to spin NBC Universal off into a separate company for the upgrade. The stock is “so diminished” after dropping 50% in five years that even a moderate change in media valuation can be material, the analyst tells investors in a research note. Rosenblatt believes NBCU could become subject to Warner Bros.-like “merger fervor at some point.” Meanwhile, sentiment for Comcast’s cable business “has probably bottomed,” as SpaceX competition fears are “overdone,” the firm contends. The company’s pivot to lower priced, more favorable packages for consumers in the second half of 2026 set the stage for a return to growth, adds Rosenblatt.
