COMCAST STOCKS RISE ON RATING UPGRADES
Comcast’s stock is currently trading at 44.10-higher by 2.61% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 2.95%. The stock has pared some of its earlier gains after the opening bell.
Investment bank Goldman Sachs upgraded the cable and media conglomerate’s stock. The bank upgraded the stock’s rating to buy from hold. Goldman Sachs also raised its price target on stocks of Comcast to $54 per share from $44 a share.
The bank said that Comcast is positioned to sustain double-digit growth in adjusted EPS and dividends over the next five years due to strong fundamentals across its key businesses. Goldman expects that the company will pick up around 1.1 million broadband customers in this year. Shares of Comcast have rallied 26% so far in 2019.
On the technical front, the RSI is currently at 61.08% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 43.90 TAKE PROFIT AT 44.32 STOP LOSS AT 43.70