Comcast (CMCSA) is expected to perform well in a competitive environment because of its good long-term position in media businesses, Oppenheimer said in a note Friday.
The company’s video losses are stabilizing and were in line with the previous year, the investment firm said.
Comcast’s mobile additions have slowed in the last four quarters but remain on par with last year and its Peacock streaming service profits from a strong pipeline of sports content and original shows/ films, according to the note.
Oppenheimer said it continues to favor Comcast over Charter Communications because it keeps improving margins, has a strong balance sheet and considerably less exposure to declines in legacy cable broadband and video markets.
Additionally, Comcast has a more updated network and is returning huge amounts of capital to shareholders through dividends and buybacks, the brokerage firm said.
Oppenheimer reiterated Comcast’s stock outperform rating and price target of $55.