Charter price target lowered to $500 from $550 at Pivotal Research

Pivotal Research earlier today lowered the firm’s price target on Charter Communications to $500 from $550 and keeps a Buy rating on the shares. Charter’s Q1 was mostly light relative to expectations although Pivotal’s positive fundamental thesis remains intact, the analyst tells investors in a research note. The firm still believes Charter controls the best data "mousetrap in the majority of its footprint and operates in a duopoly in the balance with an equivalent data product but they can offer an unbeatable converged product to take share."