The firm maintained its "outperform" rating on Comcast, citing the company's positive second quarter results and strength in cable and NBCUniversal. Comcast's strong performance has mainly been driven by lower churn and improved services/care, Oppenheimer added.
"We believe Comcast can benefit from several near-term tailwinds: increased X1 penetration, DOCSIS 2.1, the Rio Olympics, and political ad spending," Oppenheimer continued in an analyst note. "This should be particularly true for advertising revenue, which is seeing strong pricing."
The firm noted that with Comcast's coordinated Olympics broadcasting across its various properties, the company could see several content/TV partnerships and better subscriber growth.
Additionally, Comcast reported better-than-expected second quarter results on Wednesday. Earnings of 83 cents per share surpassed analysts expected 81 cents per share, while revenue came in at $19.3 billion, exceeding analysts projected $18.99 billion.
Shares of Comcast are down 0.99% to $67.19 in afternoon trading today.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate COMCAST CORP as a Buy with a ratings score of A+. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, solid stock price performance and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: CMCSA