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What Does Eveillard Know About Comcast That Drop Doesn't Show?

By admin - Posted on January 4th, 2008
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Comcast Corp.'s 35 percent decline in 2007 makes the stock look cheap to Jean-Marie Eveillard, manager of the $22 billion First Eagle Global Fund.

The biggest U.S. cable network is worth $30 a share, says Eveillard, who buys stocks he deems inexpensive relative to potential earnings and sales growth. That's 73 percent higher than yesterday's closing price of $17.34 in Nasdaq trading.

Eveillard disputes the view of Marsico Capital Management and Janus Capital Management, who invest in companies they expect to grow faster than their peers. They dumped Philadelphia-based Comcast in the second half of 2007 amid concerns that new federal restrictions and competition from phone companies will hamper revenue gains.

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