Charter price target lowered to $315 from $350 at BofA

BofA lowered the firm’s price target on Charter to $315 from $350 and keeps a Neutral rating on the shares. The firm is updating its estimates to incorporate the likely end of funding for the Affordable Connectivity Program, or ACP, in April. The firm believes the largest impact will be in Q2 and Q3 and models about 10% of Charter’s more than 5M ACP subs will churn, the analyst tells investors.