Charter price target lowered to $465 from $500 at JPMorgan

JPMorgan lowered the firm’s price target on Charter to $465 from $500 and keeps an Overweight rating on the shares. The company reported mixed Q3 results and backed off its goal of higher total broadband net adds in 2023 vs 2022 due to lingering net add headwinds following the Disney programming impasse and mid-Q3 rate increase, the analyst tells investors in a research note. The firm cites higher capex and slower subscriber growth for the target drop.