Comcast Shares Fall After Raymond James Downgrades Stock To Market Perform

Raymond James analyst Frank Louthan downgraded Comcast Corp CMCSA to Market Perform from Outperform without a price target.
Despite more remarkable media and entertainment exposure as a hedge, Louthan believes increasing competitive pressure from telcos expanding their fiber builds, along with elevated regulatory influence under the imminent reinstatement of Title II, will ultimately limit future subscriber growth from here.
Louthan added that as subscriber growth wanes, he thinks it will be difficult for Comcast to attain a market multiple.
Recently, Wells Fargo lowered its PT, implying a 13.8% downside, taking a more cautious stance on the broader Cable sector and internet slowdown.
Price Action: CMCSA shares traded lower by 3.28% at $52.91 on the last check Monday.

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