Comcast Added To Goldman Conviction Buy List; Shrs Rise

By admin On June 24, 2011 · Leave a Comment

Comcast shares are trading higher Friday morning after Goldman Sachs analyst Jason Armstrong added the stock to the firm’s Conviction Buy List. He maintains a $31 target on the stock, which closed Thursday at $23.71.

The analyst observes that the cable sector lately “has taken its cue from capital allocation decisions, with buybacks largely trumping fundamentals in relative importance for equity performance,” and notes that “Comcast’s focus on the content investment cycle has weighed on the stock’s relative performance in the group.” But he adds that the company is

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