Comcast Shares Slip as Analysts Trim Targets Amid Broadband Decline

Comcast’s shares eased a little under a percent late Wednesday, a modest dip that still leaves the stock on track for a second straight week of modest gains. The move came after two big Wall Street houses – Goldman Sachs and Citi – quietly lowered their price targets for the telecom giant.

Goldman’s Michael Ng trimmed the target to $23 from $24, keeping a neutral stance. He said the firm sees some encouraging signs in the Connectivity & Platforms division – higher earnings per segment and a modest uptick in average revenue per broadband user – but the underlying worry remains the steady erosion of broadband subscribers.

Citi was a touch less aggressive, shaving its target from $27.50 to $27 while still recommending a buy. The brokerage warned that Comcast’s upcoming business‑model tweaks could make its 2027 outlook a bit fuzzier than analysts hoped.

During the earnings call for the third quarter, CEO Michael Cavanagh didn’t shy away from the challenges. “We’re facing short‑term financial headwinds and need to be ready for new competitors, including satellite internet,” he said. The comment hinted at growing concern over SpaceX’s Starlink, which recently secured additional spectrum in the 800 MHz band – a move that could make satellite service more viable for consumers.

The numbers tell a mixed story. Broadband lost 144,000 customers, dragging Connectivity & Platforms revenue down 2.7% to $19.7 billion. Overall revenue fell 6.1% to $29.3 billion. On the flip side, the wireless side added 368,000 net lines, pushing total wireless connections to roughly 10.6 million. And Peacock finally turned a profit, offering a small silver lining.

Investors on Stocktwits reflected a shift in sentiment, moving from bearish to neutral. One outspoken user even suggested that private‑equity firms take a closer look, arguing that the hefty dividend could be better spent on share buybacks or on retaining broadband customers.

Year‑to‑date, CMCSA has slipped about 18%, a figure that still makes many wonder whether the dividend’s appeal outweighs the churn risk. For now, the market seems to be waiting – watching how Comcast reshapes its pricing bundles and whether it can stem the broadband bleed while riding the wave of wireless growth.