Loop Capital analyst Alan Gould raised the firm’s price target on Charter (CHTR) to $405 from $390 but keeps a Hold rating on the shares after its Q2 earnings beat. The company reported better-than-expected subscribers, particularly broadband, but revenue, EBITDA and free cash flow were less than consensus, the analyst tells investors in a research note. The shift to an aggressive expansion and upgrade cycle, along with higher interest rates, has flipped Charter to a discount relative to Comcast (CMCSA), and that discount is unlikely to change in the near-mid term, the firm adds.
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Read More on CHTR:
- Charter price target raised to $450 from $425 at BofA
- Charter price target raised to $450 from $410 at Wells Fargo
- Charter price target raised to $325 from $273 at Barclays
- Charter price target raised to $500 from $450 at JPMorgan
- Charter reports Q2 cash from operating activities $3.3B, free cash flow $668M