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Comcast (CMCSA) Stock Price Target Raised at Oppenheimer

NEW YORK (TheStreet) -- Oppenheimer increased its price target to $74 from $70 on shares of Comcast (CMCSA) this morning.

The firm maintained its "outperform" rating on Comcast, citing the company's positive second quarter results and strength in cable and NBCUniversal. Comcast's strong performance has mainly been driven by lower churn and improved services/care, Oppenheimer added.

"We believe Comcast can benefit from several near-term tailwinds: increased X1 penetration, DOCSIS 2.1, the Rio Olympics, and political ad spending," Oppenheimer continued in an analyst note. "This should be particularly true for advertising revenue, which is seeing strong pricing."