Citi raised the firm’s price target on Charter (CHTR) to $445 from $425 and keeps a Buy rating on the shares. Charter showed forward progress in the quarter with favorable EBITDA growth on in-line revenue and generally better key performance indicators on a year-over-year basis, the analyst tells investors in a research note. The firm remains positive on the multi-year opportunity for Charter to “rapidly expand” free cash flow from a combination of modest financial growth, lower capex, and significant share repurchases.
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