The second-quarter earnings prompted analysts to cut price targets, citing persistent broadband and cable challenges.

  • Comcast’s Q2 revenue was driven by stronger advertising and entertainment results, but its connectivity business remained under pressure.
  • RBC Capital and Scotiabank lowered their price targets, saying the company needs stronger broadband customer growth. 
  • Morgan Stanley, Wells Fargo and Barclays all lowered their price targets on Comcast, citing uncertainty around the company's turnaround despite expectations for gradual improvement. 

Comcast Corp. (CMCSA) stock is heading for its fifth month of losses as Wall Street analysts lower price targets following the company’s fiscal second-quarter (Q2) 2026 earnings results, with concerns around cable industry pressures and recovery prospects weighing on sentiment. 

Analysts Say Broadband Recovery Remains The Missing Piece 

Comcast reported Q2 revenue growth of 4.7% after adjusting for the Versant separation, supported by higher advertising income and better performance from its entertainment division. However, the company’s connectivity segment continued to struggle as revenue declined 4%, keeping investor attention on its broadband turnaround efforts.

Jonathan Atkin of RBC Capital Markets lowered his price target to $26 from $27 while keeping a ‘Sector Perform’ rating, noting that Comcast is working to improve broadband subscriber momentum by accepting pressure on average revenue per customer.

Maher Yaghi of Scotiabank cut his price target on Comcast to $29 from $32.75 after the company's quarterly revenue and EBITDA came in largely as expected. He said investors are likely to stay cautious until Comcast shows stronger customer growth and clearer improvement in its Connectivity & Platforms business. 

Comcast stock edged 0.3% higher overnight, heading into Monday. 

Comcast's Recovery: Wall Street Sees Turnaround Taking Time 

Sean Diffley of Morgan Stanley lowered his price target on Comcast to $29 from $30 and kept an "Equal Weight" rating. He said the company is still facing tough competition in the cable market, with pressure on customer growth and pricing, although conditions could improve slightly in the third quarter. 

Edward Kelly of Wells Fargo cut his price target to $23 from $28 and kept an ‘Underweight’ rating, pointing to a slower-than-expected transformation of the cable business. Kelly said potential mergers and acquisitions could support a stronger outcome, while weaker broadband trends could create additional downside risks.

Comcast’s Turnaround Execution In Focus

Kannan Venkateshwar of Barclays lowered his price target to $26 from $28 but maintained an ‘Equal Weight’ rating. He said Comcast’s turnaround strategy appears to be progressing, though performance during the second half of the year will be important in determining whether those improvements can continue.

Morningstar analyst Michael Hodel said the company reduced its U.S. broadband customer losses compared with the same period last year, marking the second consecutive quarter of improvement. 

Still, customer declines remained significant, while revenue generated per broadband user fell from last year. Hodel said Comcast’s efforts to stabilize the business could take several years to fully materialize.

CMCSA Stock: Retail View 

On Stocktwits, retail sentiment around the stock remained in ‘bullish’ territory.

A user said, “$CMCSA is the 21st most profitable company in the U.S. with over 18 billion in profits last year. This stock is an absolute steal in the low 20's!!” 

Another user said, “Roberts[CEO] had the power, he kept his spine and kept the activist shareholders out. Then he suddenly lost his spine and let the screaming activist cr**** into the boardroom. Now the company is being gutted and something that worked perfectly is gonna end up turning into another T and Warner.”

CMCSA stock has cratered 20% year-to-date. 

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