10 Best Entertainment Stocks to Buy According to Billionaires

8. Comcast Corporation (NASDAQ:CMCSA)

Number of Billionaire Investors: 14

Number of Hedge Fund Holders: 80

Comcast Corporation (NASDAQ:CMCSA) is a global media, entertainment, and communications company. The company offers broadband, wireless, and video through its Xfinity, Comcast Business, and Sky brands. Comcast Corporation (NASDAQ:CMCSA) produces, distributes, and streams entertainment, sports, and news through brands like NBC, Telemundo, Universal, Peacock, and Sky. Through its Universal Destinations & Experiences business, the company brings incredible theme parks and attractions to life around the globe. CMCSA ranks among the best entertainment stocks to invest in.

On February 10, Argus analyst Joseph Bonner reduced the firm’s price target for Comcast Corporation (NASDAQ:CMCSA) from $50 to $43 while maintaining a ‘Buy’ rating. Bonner noted that the weak macroeconomic environment and higher interest rates have caused a drop in residential moves, which are crucial for adding new customers to the company’s core cable broadband business. The analyst also pointed out that competition is increasing as telecom companies expand broadband networks into Comcast Corporation’s (NASDAQ:CMCSA) service areas. Despite these challenges, Comcast Corporation (NASDAQ:CMCSA) is addressing them by segmenting its market strategy to attract both premium and budget customers and enhancing its technology. Argus also noted that the company’s wireless business is growing, which is an important part of its service bundle.