Comcast Corporation Research Report : Financial Modeling And Valuation

1577 WordsApr 27, 20157 Pages
COMCAST CORPORATION RESEARCH REPORT FINANCIAL MODELING AND VALUATION FAN JIANG PROFESSOR SU HAN CHAN F2, SPRING 2015 TABLE OF CONTENTS Summary 1 Business description 1 Industry overview 2 Investment summary 3 Valuation 3 Financial analysis 4 Investment risks 5 SUMMARY We recommend a buy or long position on the Comcast Corporation with a target price of $64.19. By applying the discounted cash flow method, Comcast shows prevailing real value of $62.87. With a current price of $59.64 as of April 24, 2015, the firm appears to be undervalued. BUSINESS DESCRIPTION Comcast Corporation is one of the largest companies in the telecommunications and mass media industry in the United States. Headquartered in Philadelphia, PA, USA, Comcast strives to bring together the “best in media and technology”, and “drive innovation to create the world’s best entertainment and online experiences .” There are four main divisions in Comcast Corporation, including Comcast Cable, which is the largest division in the company, in charge of providing cable television, Internet and home phone services under the brand named Xfinity. Comcast Corporation acquired NBCUniversal in late 2009 and the acquisition was completed on March 2013. As a subsidiary of the Comcast Corp., NBCUniversal is the “world’s largest mass media group.” The company engages in producing and operating entertainment and news television networks, and owns motion picture companies as well as branded theme parks. Comcast

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