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Comcast Rises as Universal Studios in California Reopens

Stock Markets39 minutes ago (Apr 16, 2021 11:34AM ET)

(C) Reuters.

By Christiana Sciaudone

Investing.com — Harry Potter world, how we’ve missed you.

Universal Studios is reopening in California, Raymond James boosted the stock and Comcast (NASDAQ:CMCSA) shares are rising.

After a year of silence, crowds are being welcomed back to the theme park, albeit with some restrictions. Raymond James sees parent Comcast as a recovery play, bumping the stock to outperform from marketperform.

“We believe there is future NBCU upside from HSD strength, Peacock sub growth, improved theatrical revenue, and phased theme park reopenings,” analyst Frank Louthan wrote in a note, according to StreetInsider. “The COVID-defensive cable group has lagged in recent months, although we believe Comcast possesses a notable COVID-recovery component with its stores, parks, and theatrical business.”

Shares are up about 1.8%, trading close to the record hit last month.

Comcast Rises as Universal Studios in California Reopens

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