Charter price target lowered to $285 from $335 at Loop Capital

Loop Capital lowered the firm’s price target on Charter to $285 from $335 and keeps a Hold rating on the shares. The company’s Q1 results missed expectations on all key metrics except for EBITDA while the management has cautioned for challenging Q2 broadband sub losses, ARPU and bad debt expense, the analyst tells investors in a research note. The bull case on the stock is that Charter offers the best converged mobile/internet product at a reasonable price and should have a fully upgraded network in the next two years, while the bear case is that there is a lot of short-term uncertainty on when the company returns to broadband sub growth, the firm added.