Bank of America Merrill Lynch Reiterates Buy on Comcast

Bank of America Merrill Lynch is out with its report today on Comcast CMCSA, reiterating Buy. In a note to clients, Bank of America Merrill Lynch writes, "We reiterate our Buy and our $31 PO, potential upside of 22%, due to: (1) attractive valuation of only 6.0x 2011E EV/EBITDA, (2) secular advantage in broadband, (3) upside potential from NBCU, (4) potential for significant increase in shareholder returns in 2012E, (5) thriving SME business, (6) innovative video offer in the pipeline, including improved search and user interface and (7) network flexibility." Shares of CMCSA closed Friday at $25.51, down 0.27% from Thursday's close.