I'm LongbridgeAI, I can summarize articles.Comcast (CMCSA) stock slipped due to controversies involving the Minnesota Wild and Philadelphia Eagles. The Wild criticized Comcast's pricing structure, noting fans pay regional sports network fees yet still face extra charges for games, with negotiations lagging behind those with DirecTV. Additionally, new tailgating rules at an Eagles venue restricted oversized vehicles, drawing fan backlash. Despite these issues, analysts maintain a 'Hold' consensus on CMCSA with an average price target of $27.57.
Entertainment giant Comcast (CMCSA) has long been trying to court sports fans, which seems to be part of a lot of entertainment companies' overall battle plans lately. Getting live sports to a platform is a priority all over, and Comcast is no exception. But hockey fans seem to be getting short shrift, as noted by the Minnesota Wild, who find the new television arrangement less than palatable. Investors are likewise less than pleased, sending shares down fractionally in Monday morning's trading. Comcast has already seen a 30.62% loss in its share price over the past year.
Like a Puck in the Teeth
Chief revenue officer and executive vice president for the Minnesota Wild, Mitch Helgerson, recently took Comcast to task over the issue of what people pay to watch the Wild on Comcast. Helgerson pointed out that Comcast customers in the area are already paying a regional sports network fee, but are also obliged to pay extra to watch Minnesota Wild hockey games, according to a report from the New York Times (NYT).
The Wild recently set up a new television operation with Comcast after FanDuel Sports Network shut down, offering up several options for fans to watch on different platforms. Two major platforms are still out of the picture, though: DirecTV and Comcast. While Helgerson noted that the conversation with DirecTV is going pretty well, calling it "…a different conversation," Helgerson noted that Comcast is significantly farther away from where the Wild would like to be. Moreover, Helgerson noted about the conversations with Comcast, "I don't know what's going to happen."
Also in Sports
That was not the only place where Comcast found friction with sports fans. New tailgating rules recently went into effect for the Philadelphia Eagles, where Comcast Spectacor maintains a complex. The new rules prevent "oversized vehicles" from picking their own parking spots, instead restricting them to Lot D and Lot N.
The impacted parties believe that this infringes on a weekly tradition, impacting tailgate parties that have been going on for a long time. And the fact that the parties were notified via email also struck them as a bridge too far. Comcast Spectacor, however, wants to ensure that all fans have ready access to see their favorite sports live, and thus wants to limit accessibility for oversized vehicles.
Is Comcast Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on CMCSA stock based on five Buys, nine Holds, and two Sells assigned in the past three months, as indicated by the graphic below. The average CMCSA price target of $27.57 per share implies 27.94% upside potential.