Benjamin Swinburne, an analyst from Morgan Stanley, maintained the Hold rating on Charter Communications (CHTR – Research Report). The associated price target was raised to $415.00.
Benjamin Swinburne has given his Hold rating due to a combination of factors influencing Charter Communications’ performance. The company’s recent financial results showed a mixed picture, with broadband customer losses slightly exceeding expectations, yet there was notable progress in executing its converged strategy within a competitive market. Despite the challenges, Charter achieved a healthy growth in residential revenue and adjusted EBITDA, driven by lower operating expenses and successful converged offers like Spectrum One and Life Unlimited.
Moreover, the company experienced strong mobile net additions, indicating potential for improved average revenue per user (ARPU). However, the intense competition in the broadband sector and the anticipated deceleration of EBITDA growth beyond 2025 contribute to a cautious outlook. While the price target has been adjusted upwards, reflecting some upside potential, the overall assessment remains balanced, justifying the Hold rating.
Swinburne covers the Communication Services sector, focusing on stocks such as Spotify, Charter Communications, and Comcast. According to TipRanks, Swinburne has an average return of 12.5% and a 58.77% success rate on recommended stocks.
In another report released on April 14, Wells Fargo also maintained a Hold rating on the stock with a $380.00 price target.