Sarah Wasserman (swasserman@sir-inc.com) The brokerage bunch has taken a shine to Comcast Corporation (CMCSA) today, with the cable company receiving a duo of upbeat analyst endorsements this morning. Specifically, Bernstein raised its outlook on CMCSA to "outperform" from "market perform," and also increased its price target to $26 from $20. Meanwhile, Nomura initiated coverage of CMCSA with a "buy" rating and $25 price target.
The brokerage bunch is generally mixed toward CMCSA, with Zacks reporting that 14 analysts call the stock a "buy" or better, while 12 maintain a "hold" rating on the shares. Going forward, CMCSA could benefit from additional upgrades and/or price-target increases from the remaining skeptics.
Technically speaking, CMCSA has been on a tear lately. After a nice rally back in October, CMCSA entered into a period of consolidation in the $20 to $21 neighborhood. Last week, the shares bounced off their 10-day trendline, and have since tagged a series of fresh annual highs. In fact, just today CMCSA rallied to a new 52-week peak of $22.37.
The stock's recent technical feat could come as music to option players' ears. In the soon-to-expire December series of options, peak call open interest of nearly 24,000 contracts can be found at the 21 strike, with the 20 strike carrying another 12,000 calls in open interest. Given the stock's current perch around $22.34, both of these calls are in the money.
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