S&P reaffirms buy on Comcast

CHICAGO (MarketWatch) -- S&P Capital IQ analyst Tuna Amobi on Monday reiterated his buy rating on Comcast Corp. shares one year after the cable-television operator's acquisition of a controlling stake in NBC Universal. "On post-integration hindsight, we see a fortuitous deal at what seems like an even more attractive valuation," Amobi wrote to clients. He cited NBC Universal's "solid" cable networks, including USA, Bravo and CNBC; a rebound in broadcast-TV advertising, which helps NBC and its owned-and-operated TV stations; and "emerging revenue streams," including online vide streaming, and retransmission consent fees for the NBC stations, among other positive factors. Amobi cautioned, however, that NBC still faces "programming challenges" as the No. 4 broadcast network, and the recently rebranded NBC Sports Network has "ample competition" in the cable sports arena, which is dominated by ESPN and the Fox regional sports networks. (Fox Sports Net is owned by News Corp. , which is also the parent company of MarketWatch, the publisher of this report.)Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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