On September 18, Comcast fell 3.08% in regular trading, trading at $23.005 per share with turnover of $532 million, extending its recent downtrend. The decline came as multiple investment banks issued a wave of price target cuts on the stock amid deepening concerns over broadband subscriber erosion.

Specifically, UBS slashed its price target sharply from $32 to $27 while maintaining a neutral rating, citing expectations of 160,000 broadband losses in Q3 and 200,000 in Q4 as competition from fiber, fixed wireless access, and Starlink's v3 constellation intensifies. Goldman Sachs trimmed its target from $25 to $24, while BofA Securities lowered its target from $37 to $35. UBS now projects total revenue and EBITDA declines of 2.2% and 3.1%, respectively, for Q3.

The downgrades follow Comcast CFO Jason Armstrong's candid remarks at a Goldman Sachs conference, where he warned that Q3 broadband subscriber losses are unlikely to improve year-over-year as competitors deploy aggressive low-price strategies. That disclosure previously triggered a single-day plunge of over 7%. Comcast shares have now fallen below their book value of $25.30, with the price-to-book ratio dropping to 0.92x.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)