Cable One price target lowered to $460 from $550 at Wells Fargo

Wells Fargo analyst Steven Cahall lowered the firm’s price target on Cable One to $460 from $550 and keeps an Underweight rating on the shares. This was the first real quarter in which competition has jolted Cable One’s financial algorithm as average revenue per user growth, and therefore broadband revenue growth, are degrading, the analyst tells investors in a research note.