Today, I want to give you updated buy under prices and targets for some recent Trade of the Day recommendations that are in favorable technical trends.
But first, Comcast Corporation (CMCSA), which I recommended as a “buy” under $60 on June 29, fell below that level that day. Shares then ran to a high of $64.99 on July 22 before pulling back following the company’s Q2 earnings release.
Revenue for the quarter increased 11.3% to $18.74 billion, beating analysts’ estimates. Adjusted earnings of 84 cents per share were in line with the consensus estimate and up 12% year over year. The post-earnings sell-off was attributed in part to video subscriber losses and a slowdown in high-speed broadband and voice customer growth.
Following the earnings release, Credit Suisse Equity Research increased its 2015 earnings per share (EPS) estimate by 2% to $3.30 and upped its target price to $67 from $66. Its analysts have an “outperform” rating on CMCSA stock. They emphasized the company’s strong operational performance and noted that the number of video subscribers lost was well below expectations. At 69,000, video net losses improved 52% from the year-ago quarter.
Capital IQ also raised its target price for CMCSA stock following the report, by $3 to $68, and reiterated its “buy” rating. Its analyst noted “robust” performance from the film studio division with “Jurassic World” and “Furious 7,” and the theme park division including the “Harry Potter” attraction, as well as cable Internet and business services.
Technically, CMCSA stock is in a long-term bull market and correcting from a breakout that occurred in late June. The break at about $60 almost drove shares to my trading objective of $66. But the market sell-off could give buyers who missed it in June an opportunity to get into CMCSA stock at my original buy under price of $60.
And here are updated buy under prices and targets for some recent Trade of the Day stocks currently in bullish trends:
| Buy Under Price | Target Price | |
| Citrix Systems, Inc. (CTXS) | $66 | $85 |
| Comcast Corporation (CMCSA) | $60 | $66 |
| iShares NASDAQ Biotechnology Index (ETF) (IBB) | $369 | $400 |
| Facebook Inc (FB) | $87.50 | $100 |
| Hewlett-Packard Company (HPQ) | $30 | $36 |
| Fifth Third Bancorp (FITB) | $20.50 | $25 |
| SPDR S&P Homebuilders (ETF) (XHB) | $36 | $42 |
| SPDR KBW Bank (ETF) (KBE) | $35 | $42 |
| Lincoln National Corporation (LNC) | $57 | $65 |
| KeyCorp (KEY) | $14.50 | $20 |
| iShares Dow Jones US Technology (ETF) (IYW) | $100 | $117 |
| M.D.C. Holdings, Inc. (MDC) | $30 | $35 |
| Apple Inc. (AAPL) |
$115 | $150 |
| Gilead Sciences, Inc. (GILD) | $105 | $143 |
Additionally, we have stopped out of Capital One Financial Corp. (COF), Union Pacific Corporation (UNP) and FedEx Corporation (FDX).
