Comcast (CMCSA) Stock Forecast & Price Target

Comcast's stock outlook appears positive due to the strong revenue growth within its media segment, particularly driven by Peacock's mid-teen revenue growth and rising advertising and distribution revenues. The company's content and experiences segment demonstrated remarkable performance, highlighted by a 19% revenue increase from its theme parks, largely attributed to the successful launch of Epic Universe. Furthermore, Comcast is projected to benefit from an optimistic Q4 film slate and the recent NBA premiere, which are expected to enhance advertising and distribution revenues despite initial costs associated with sports rights.

Comcast's financial outlook is negative primarily due to a projected decline in Broadband Average Revenue Per User (ARPU), which is expected to drop significantly due to the adoption of a five-year price lock strategy and the absence of typical first-quarter rate increases. Additionally, the company reported a year-over-year decline in EBITDA of 3.7% for Q3, with forecasts indicating continued pressure and potential negative growth in ARPU and Connectivity & Platforms EBITDA in early 2026. The overall revenue expectations for the company have also been revised downward, reflecting an anticipated decline in total EBITDA for Q4 2025 and ongoing challenges in achieving growth amidst increased operational and marketing expenses.