Loop Capital analyst Alan Gould upgraded Charter (CHTR) to Buy from Hold with a price target of $510, up from $430. The firm sees “enhanced growth prospects” from the company’s proposed merger with Cox Communications. The transaction is expected to be accretive, reduce leverage, and deliver scale efficiencies, positioning Charter as the largest domestic cable operator, the analyst tells investors in a research note. Further, Loop believes Charter’s Life Unlimited rebrand, which provides a converged broadband/mobile offering as well as customer service guarantees, is showing early traction.
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