Comcast has gone too far, analyst says

February 21, 2008 The dividend and a stock-buyback update "were positive developments, but they have little to do with valuation or fundamentals, yet the stock is up 15% since the earnings report," Credit Suisse analyst Bryan Kraft said in downgrading the cable giant's stock from "outperform" to "neutral." While some analysts have said that Comcast shares have been trading near historic lows, Kraft argued that current multiples are "incomparable to historical statistics because they fail to account for the increase in capital intensity" in the cable business.

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