TD Cowen Cuts Comcast (CMCSA) Price Target to $36
Key Points
- TD Cowen reiterated its Buy rating on Comcast Corporation on October 23, 2026, lowering its price target to $36.00 from $39.00.
- TD Cowen's $36 price target implies 56.11% upside from Comcast Corporation's ($CMCSA) current $23.06 share price.
- Comcast Corporation recently traded around $23.06, sitting below both its 50-day and 200-day moving averages.
- Institutional investors like Dodge & Cox Inc. maintain substantial positions in the media and technology company.
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On October 23, 2026, TD Cowen maintained its Buy rating on Comcast Corporation [CMCSA] while lowering its price target from $39.00 to $36.00.
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Comcast Corporation
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TD Cowen's Call on Comcast Corporation
In its research note published on October 23, 2026, TD Cowen kept a Buy rating on Comcast Corporation while reducing its price target to $36.00 from the previous target of $39.00. The adjustment comes as Wall Street firms update their outlooks for the media and connectivity provider.
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 its report dated June 30, 2026.
Comcast Corporation Stock Up 4.4%
Comcast Corporation recently traded around $23.06 as of October 23, 2026, up about 1.0% since closing at $22.84 on October 22, 2026. The stock trades below its 50-day moving average of $23.87 and its 200-day moving average of $26.26.
$CMCSA price target
Comcast Corporation daily closes and this analyst's $36 target. Not advice.
Recent Earnings
Comcast Corporation posted trailing twelve month revenue of $124.90 billion and earnings of $3.16 per share, with 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 Corporation pays an annual dividend rate of $1.32 per share, yielding 5.98% with a dividend payout ratio of 42.6%.
Insider Buying and Selling at Comcast Corporation
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, on March 5, 2026, Chief Financial Officer Jason S Armstrong sold 4,494 shares at an average price of $31.74 for a total value of $142,617.
Analysts Set New Price Targets
On October 2, 2026, Scotiabank maintained a Sector Perform rating and lowered its price target from $29.00 to $27.50. On October 19, 2026, Rosenblatt maintained a Buy rating with a $31.00 price target. On October 23, 2026, Evercore ISI Group maintained an Outperform rating while lowering its target to $29.00 from $30.00. On the same day, Rosenblatt maintained a Buy rating with a $31.00 price target. Overall, the stock has a consensus hold rating from 22 analysts with a mean price target of $28.38.
About Comcast Corporation
Comcast Corporation operates as a global media and technology company. It provides residential broadband, wireless connectivity, video services, and entertainment television networks, alongside running theme parks and studios.
Bottom Line
Investors will continue monitoring analyst revisions and institutional filings to gauge sentiment on Comcast Corporation. No investment action is implied by this rating update.
Related Filing Alerts
Source: TD Cowen's rating change on $CMCSA (Oct 23, 2026). Written by software, not financial advice. How we make alerts