Warburg Analyst: Comcast Is a Buy

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UBS Warburg cable debt and equity analyst Aryeh Bourkoff initiated coverage of Comcast Corp. last week with a "Buy 2" rating and a 12-month price target of $35 per share. In a research note, Bourkoff said he expects 2003 to be a "bumpy ride," as the company moves to pare debt and upgrade the former AT&T Broadband systems. Though he expects Cox Communications Inc. to outperform Comcast in the near term, he sees more long-term upside in the Philadelphia-based MSO.

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