BNP Paribas Downgrades Cable TV Stocks Amid Fiber Expansion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 24 2026
0mins
Should l Buy CMCSA?
Source: seekingalpha
- Rating Downgrade: BNP Paribas downgraded Comcast (CMCSA) and Cable One (CABO) from 'neutral' to 'underperform', indicating that fiber expansion is eroding market share and is expected to negatively impact future performance for both companies.
- Market Share Loss: U.S. cable companies have lost 10% of the fixed broadband market over the past five years, with BNP highlighting that this trend remains challenging in Q4 2025, suggesting ongoing difficulties for the industry.
- Pessimistic Financial Outlook: BNP views Comcast as most vulnerable to fiber competition and considers broadband revenue estimates for the second half of 2026 as 'too optimistic', which may lead to investor disappointment regarding its future financial performance.
- Target Price Adjustments: Comcast's price target was cut by $1 to $27, implying a 15% downside, while Cable One's target was slashed by $45 to $80, indicating a 20% downside risk, reflecting market concerns about their future performance.
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Analyst Views on CMCSA
Wall Street analysts forecast CMCSA stock price to rise
22 Analyst Rating
7 Buy
12 Hold
3 Sell
Hold
Current: 28.900
Low
23.00
Averages
33.45
High
53.00
Current: 28.900
Low
23.00
Averages
33.45
High
53.00
About CMCSA
Comcast Corporation is a global media and technology company. The Company delivers broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produces, distributes, and streams entertainment, sports, and news through brands, including NBC, Telemundo, Universal, Peacock, and Sky; and brings theme parks and attractions to life through Universal Destinations & Experiences. The Company operates through two primary businesses: Connectivity & Platforms and Content & Experiences. The Connectivity & Platforms business includes two segments: Residential Connectivity & Platforms, and Business Services. Its Connectivity and Content & Experiences business include three segments: Media, Studios and Theme Parks. Sky provides connectivity services to customers across Europe through Sky Broadband, Sky Mobile, and Sky Business. Sky Business extends broadband services and purpose-built products to businesses in Europe.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Paychex's AI Integration: Although Paychex's shares have fallen over 35% in the past year, the company is guiding for double-digit earnings growth this fiscal year, partly due to AI integration and a recently approved $1 billion share repurchase program, which could boost EPS growth.
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