Wall Street analysts lowered Comcast price targets following the company's second-quarter earnings report. The stock is currently pacing for its fifth consecutive month of losses. RBC Capital Markets and Scotiabank cited persistent cable industry pressures and sluggish broadband subscriber growth.
Advertising and entertainment divisions supported Q2 revenue. However, the connectivity segment reported declining revenue. Analysts expect investor caution until the core broadband business shows signs of a turnaround.
RBC Capital Markets lowered its price target from $27 to $26. Scotiabank reduced its target from $32.75 to $29.