Evercore ISI Group Cuts Comcast (CMCSA) Price Target to $29
Key Points
- Evercore ISI Group reiterated an Outperform rating on Comcast Corporation on October 23, 2026, while adjusting its price target down to $29.00 from $30.00.
- Evercore ISI Group's $29 price target implies 25.76% upside from Comcast Corporation's ($CMCSA) current $23.06 share price.
- Comcast Corporation recently traded around $23.06, sitting below both its 50-day and 200-day moving averages as Wall Street continues to weigh broader telecom trends.
- Major institutional holders like Dodge & Cox Inc. maintain substantial positions, holding 115,903,125 shares worth approximately $2,647,227,392 following recent portfolio adjustments.
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Evercore ISI Group maintained an Outperform rating on Comcast Corporation (CMCSA) on October 23, 2026, while moving its price target down from $30.00 to $29.00. The research note arrived as part of the firm's broader coverage of media and telecom stocks. Comcast shares recently traded around $23.06, moving slightly above the previous day's close of $22.84 on October 22, 2026.
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Comcast Corporation
Evercore ISI Group vs. the S&P 500
Hypothetical returns from Evercore ISI Group's disclosed trades, not real profit or advice. How we model this.
Other Institutional Activity in Comcast Corporation
Dodge & Cox Inc. grew its holdings by 2,793,800 shares, ending with 115,903,125 shares worth about $2,647,227,392 in a 2.5% increase.
Comcast Corporation Stock Up 4.4%
The stock recently changed hands at $23.06, sitting below its 50-day moving average of $23.87 and its 200-day moving average of $26.26. Shares trade about 29.8% below their 52-week high of $32.86 and roughly 12.6% above their 52-week low of $20.48.
$CMCSA price target
Comcast Corporation daily closes and this analyst's $29 target. Not advice.
Recent Earnings
Comcast reported trailing twelve month revenue of $124.90 billion and earnings of $3.16 per share, alongside a net profit margin of 9.0% and a return on equity of 11.5%.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
2 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 5.1%. Revenue met estimates.
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Profit surprise
EBITDA missed by 3 percent. Operating income missed by 4 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
2 target raises.
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Earnings quality
Gross margin down 6.4 points. Operating margin down 5.8 points. Positive free cash flow.
Earnings Call Summary
Comcast reported first quarter revenue of $31.5 billion, up 11 percent year over year, beating consensus by $120 million. The company delivered earnings per share of $0.79, beating consensus of $0.73 by $0.06. Broadband customer losses improved significantly to 65,000 from 182,000 a year ago, marking the first improvement since late 2020. Wireless achieved record net additions of 435,000 lines, with nearly half coming from free line offers. Leadership highlighted strategic momentum from their restructured go-to-market approach, leveraging the Legendary February sports events to drive brand awareness and customer acquisition across connectivity products.
Guidance Management did not provide specific forward guidance for full year or next quarter. They stated expectations for continued broadband ARPU pressure in the second quarter but relief as the year exits. Peacock is expected to approach profitability in the second quarter. Free wireless lines will begin monetizing in the second half of the year, which should benefit convergence revenue growth.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Comcast pays an annual dividend rate of $1.32 per share, yielding 5.98% with a payout ratio of 42.6%.
Insider Buying and Selling at Comcast Corporation
Earlier in the year, Chief Executive Officer Michael J. Cavanagh sold 57,947 shares on February 11, 2026, at an average price of $32.66 for a total value of $1,892,549. Later, Chief Financial Officer Jason S Armstrong sold 4,494 shares on March 5, 2026, at an average price of $31.74 worth $142,617.
Analysts Set New Price Targets
On October 2, 2026, Scotiabank maintained a Sector Perform rating and lowered its target from $29.00 to $27.50. On October 19, 2026, Rosenblatt maintained a Buy rating with a $31.00 target. On October 23, 2026, TD Cowen maintained a Buy rating while lowering its target from $39.00 to $36.00, and Rosenblatt reiterated its Buy rating at a $31.00 target. Overall, the stock carries a consensus hold recommendation and a mean price target of $28.38 across 22 analyst opinions.
About Comcast Corporation
Comcast Corporation operates as a global media and technology provider, delivering broadband connectivity, wireless services, video entertainment, and theme park attractions across multiple regions. The company's diverse business model spans residential connectivity, business services, and major media studios.
Bottom Line
Evercore ISI's updated target highlights shifting expectations for telecom operators amid changing market conditions. Investors will continue to monitor upcoming analyst revisions and institutional filing updates for further direction on the stock.
Related Filing Alerts
Source: Evercore ISI Group's rating change on $CMCSA (Oct 23, 2026). Written by software, not financial advice. How we make alerts