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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CHTR:
- Charter price target lowered to $390 from $400 at Deutsche Bank
- Charter price target lowered to $490 from $575 at Benchmark
- Charter: Total broadband opportunity long-term ‘has not changed’
- Charter: November has been ‘similarly soft’ vs. October
- Charter sinks 8% to $367.67 amid presentation at UBS conference