Citi raised the firm’s price target on Charter to $350 from $255 and keeps a Sell rating on the shares. The company’s Q2 results delivered better core broadband losses, lower Affordable Connectivity Program-related dilution, and significantly better financials, setting up an improved outlook for fiscal 2024 EBITDA and minimizing risk to 2025 consensus EBITDA, the analyst tells investors in a research note. However, the firm still sees risk to consensus broadband volume performance later in 2024 and through 2025, and notes the stock’s valuation remains elevated versus peers.
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