Wunderlich Securities Maintains Buy Rating On CMCSA

Wunderlich Securities is maintaining its Buy rating on Comcast CMCSA moving into Tuesday morning's earnings release. “Our FiOS/U-Verse matrix suggests reasonable upside on the cable valuation, even allowing for continued market share erosion, while we believe that the Street has not accorded upside on the NBCU transaction that is aligned with major moves in integrated studio network comparables since the joint venture was announced in December 2009,” Wunderlich Securities writes. “Better granularity from Comcast on NBCU's results should prod a reassessment of NBCU. Although Comcast has not been as aggressive as peers in buying in stock, it may create substantial value by acquiring shares at a wider value discount, as shown in this note.” Comcast closed Monday at $26.68.