UPDATE: Deutsche Bank Raises PT on Comcast to $33 (CMCSA)

Deutsche Bank is out with its report on Comcast CMCSA, raising its PT from $30 to $33. In a note to clients, Deutsche Bank writes, "We have increased confidence in the outlook for cable as well as Comcast execution, and we adjusted our forecast for trends that appear clear (broadband pricing power, voice prices dropping slower-than-expected, robust SME growth, video innovation), raising our '11E-‘15E EBITDA CAGR from 2.8% to 5.0%, adding $1.80 of value to our DCF. We also reviewed NBCU's non-consolidated entities and added $3b, or $1.20/shr, of minority value to our target. In total, our DCF target is increased $3 to $33. We also increased our 2012 and beyond share repurchase estimate to $3b from $2b." Deutsche Bank maintains Buy on CMCSA. Shares of CMCSA closed Friday at $26.21.