Charter price target lowered to $293 from $377 at Redburn Atlantic

Redburn Atlantic lowered the firm’s price target on Charter to $293 from $377 and keeps a Neutral rating on the shares. The firm’s top-down broadband analysis suggests additional downside to cable broadband subscription consensus estimates across 2024 and 2025. There is further risk to Charter from the likely sunset of the Affordable Connectivity Program, but a decent portion of this could manifest in the loss of low-margin mobile subscriptions, the analyst tells investors in a research note.