"Overly Pessimistic": Comcast Stock (NASDAQ:CMCSA) Ticks Up With MoffettNathanson Remarks

Entertainment giant Comcast (CMCSA) has caught its share of skepticism over the last few weeks or so, as investors consider an internet landscape saturated with competition and a linear television picture that is dying a little faster than it used to. But MoffettNathanson is not convinced there is a problem here, and said as much in recent analysis. This was good enough for investors, who sent shares up fractionally in Tuesday afternoon's trading.Claim 70% Off TipRanks This Holiday SeasonUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential MoffettNathanson analyst Craig Moffett noted that investors are "overly pessimistic" about Comcast. In fact, he personally is very bullish on Comcast, as he has both a Buy rating on the stock and a price target of $53 per share. One of the major points driving the optimistic side of analysis perspective on Comcast these days is a sea change at the top. CEO Brian Roberts has often been considered an "empire builder," but this perception—and the plans required to cement such standing—are in flux. There is the spinoff of the linear properties into the upcoming company Versant, and the possibility that Comcast might also separate its media, entertainment, and parks business, which would represent about $30 billion in value, reports note. About The Parks…. Meanwhile, Comcast is also ramping up its plans for more theme parks. Just a couple weeks ago, Comcast started planning to launch a new theme park in Saudi Arabia. This was a move that was greeted with a bit of skepticism, as some see both positives and negatives connected to this plan. The biggest positives are a clear continuity of investment, particularly in areas that should come with plenty of upside potential. However, investors are also likely somewhat concerned by the spending required to make these investments happen. Setting up a new multibillion-dollar theme park will require, as the term suggests, multiple billions of dollars. Plans for large-scale spending in uncertain economic conditions could come back to haunt the company, and its investors. Is Comcast Stock a Good Buy Right Now? Turning to Wall Street, analysts have a Moderate Buy consensus rating on CMCSA stock based on seven Buys, 14 Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 20.41% loss in its share price over the past year, the average CMCSA price target of $35.19 per share implies 17.14% upside potential.