On September 25, Comcast fell 3.1% in regular trading, trading at $21.45/share, with turnover of $73.54 million. The decline was triggered by KeyBanc downgrading its rating on the stock, compounded by Citigroup cutting its price target to $27.50 from $30 while maintaining a Buy rating.

Over the past two weeks, multiple investment banks have slashed their price targets on Comcast in rapid succession: MoffettNathanson cut to $43 from $52, BofA Securities to $35 from $37, UBS to $27 from $32, and Goldman Sachs to $24 from $25. The consensus mean target now stands at $30.75. UBS projects broadband subscriber net losses of 160,000 in Q3 and 200,000 in Q4, with total revenue and EBITDA expected to decline 2.2% and 3.1%, respectively.

The bearish sentiment intensified after Comcast CFO Jason Armstrong warned earlier this month that Q3 broadband subscriber losses are unlikely to improve year-over-year, citing irrational competitor pricing. UBS noted that competition is worsening as fiber deployment accelerates, fixed wireless access persists, and Starlink ramps its v3 constellation.

(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.)