BNP Paribas Upgrades Comcast (CMCSA) to Neutral

Core Insights - Comcast Corporation (NASDAQ:CMCSA) is recognized as one of the 15 Best Passive Income Stocks to buy currently [1] - BNP Paribas Exane upgraded Comcast from Underperform to Neutral with a price target of $28 [2] Financial Performance - Comcast reported consolidated adjusted EBITDA of $9.7 billion and adjusted earnings of $1.12 per share [4] - The company generated free cash flow of $4.9 billion and returned $2.8 billion to shareholders through dividends and share buybacks, reducing the share count by 5% [4] - Revenue decreased by 2.7% compared to the previous year, impacted by difficult comparisons due to additional revenue from the Paris Olympics [4] Business Segments - The company is facing structural issues, particularly in the cable segment, and has shifted focus to broadband, which is now maturing and losing subscribers [3] - In Q3 2025, Comcast added 414,000 domestic wireless lines, achieving its highest quarterly result, with wireless penetration exceeding 14% among its broadband base [3]