BNP Paribas Cuts Comcast Price Target to $27 After 181,000 Q4 Subscriber Loss
BNP Paribas downgraded Comcast to Underperform and cut its price target to $27 after a 181,000 Q4 broadband-subscriber loss and intensifying fiber competition. Comcast hired Jenna Mattison to adapt J.D. Barker’s thriller 'A Caller’s Game' as a feature film, marking a second collaboration and strengthening its NBCUniversal studio slate.
1. Analyst Downgrade and Price Target Cut
BNP Paribas downgraded Comcast to Underperform from Neutral, cutting its price target by $1 to $27. The analyst cited increased risk from fiber competitors that have escalated promotional offers and fixed-wireless alternatives.
2. Subscriber Losses and Competitive Pressure
Comcast reported a net loss of 181,000 broadband customers in the fourth quarter, surpassing estimates, and flagged intensified competition from fiber and fixed-wireless providers that have eroded its market share.
3. Customer Retention Initiatives
To stem losses, Comcast is holding residential broadband prices flat for the year, revamping service bundles and offering free mobile lines to attract subscribers, with the expectation that many will convert to paid plans in the second half of the year.
4. Film Adaptation Deal
NBCUniversal has hired screenwriter Jenna Mattison to adapt J.D. Barker’s 2021 thriller 'A Caller’s Game' into a feature film, marking the pair’s second collaboration and bolstering Comcast’s film production slate.