Oppenheimer Maintains Outperform On Comcast After Earnings (CMCSA)

Oppenheimer & Co. has an Outperform rating and a $30 price target on shares of Comcast CMCSA after it reported earnings. In a note to investors, Oppenheimer writes, "As we expected, 1Q11 results are confusing given the close of the NBC Universal acquisition. This quarter consolidates two months of NBC's results, and given the close of such a large transaction the company has rearranged reporting items which makes a direct comparison of our estimates versus reported results meaningless on a line-by-line basis. The cleanest results in the quarter were in the cable segment, where Comcast continues to gain share and exert pricing power, particularly in broadband where its speed advantage gives it an edge over its competitors. Comcast provided pro forma results for five quarters which we will be incorporating into our forecast when we update our model later today." Shares of CMCSA lost 7 cents yesterday to close at $26.61, a loss of 0.26%.