Morgan Stanley lowered the firm’s price target on Charter (CHTR) to $430 from $475 and keeps an Equal Weight rating on the shares. While the firm remains “optimistic” on cable’s long-term broadband position, it sees 2024 as “another year of challenging customer trends” and the firm is lowering broadband net adds expectations across all three U.S. cable operators. Comcast (CMCSA) remains its only Overweight-rated stock in the group as it sees about 10% adjusted EPS CAGR through 2027, the firm noted.
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