Comcast Slips as KeyBanc Cuts to Underweight on Broadband Share Losses; AT&T and Verizon Hold Steady
Source: 24/7 Wall St. ·
KeyBanc just slapped an Underweight rating on Comcast with a price target that implies further pain ahead, and the stock is already down 20% this year as fiber rivals keep stealing its most valuable customers.
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KeyBanc just slapped an Underweight rating on Comcast with a price target that implies further pain ahead, and the stock is already down 20% this year as fiber rivals keep stealing its most valuable customers. Market Movers desk. Editor: David Moadel . This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. KeyBanc’s bearish turn on broadband is pulling Comcast Corporation ( NASDAQ:CMCSA | CMCSA Price Prediction ) lower, while the fiber carriers winning its customers barely shift. Comcast stock is down 2% to $21.66 as trading gets underway. That leaves Comcast stock down 20% year to date (YTD). AT&T ( NYSE:T ) stock is at $25.39, down 0.2%, as the market shrugs off a thesis that frames the carrier as one of the rivals pulling broadband customers from Comcast. Similarly, Verizon Communications ( NYSE:VZ ) stock is down 0.2% to $47.24, holding steady as another fiber and fixed wireless competitor at…