Analyst Note| Michael Hodel, CFA |
Comcast continued to put up stellar cable metrics and resumed share repurchases during the second quarter. Management also reiterated its view that Comcast doesn’t need to undertake acquisitions to gain scale in the media business and announced that Peacock will be made available to Sky customers for free. We’re increasing our fair value estimate to $60 from $54. We believe the stock is fairly valued, but we also view it as a core portfolio holding at current prices.