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Comcast -1.4% as Macquarie cuts to Neutral on Sky bid

Published 02/28/2018, 10:00 AM
© Reuters.  Comcast -1.4% as Macquarie cuts to Neutral on Sky bid
CMCSA
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  • Comcast (NASDAQ:CMCSA) is 1.4% lower after a downgrade by Macquarie over its potential topping bid for Sky.
  • Analyst Amy Yong cut the shares to Neutral after noting that the possible $31B bid throws a wrench into what was an otherwise clean story on leverage and M&A.
  • While adding Sky would diversify the portfolio, it would also expose Comcast to a satellite sector under pressure, she notes. (h/t Bloomberg)
  • She's cut her price target to $42, still implying 16% upside from here.
  • Now read: Tracking Glenn Greenberg's Brave Warrior Advisors Portfolio - Q4 2017 Update


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