Citi upgraded Charter to Neutral from Sell with a $350 price target. Valuation has receded, the core broadband operating environment for Q3 seems stable with prior commentary, and ACP retention seems to be going better than expected for the category, the analyst tells investors in a research note. The firm added that it still prefers large-cap Telecom stocks over large-cap Cable stocks, while the recent move in telecom valuations is starting to recognize improving fundamentals for the wireless category.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CHTR:
- MoffettNathanson says Frontier deal implications ‘mixed’ for Verizon competitors
- Charter and AMC Networks to renew distribution agreement
- Early notable gainers among liquid option names on August 27th
- M&A News: Skydance Demands that Paramount (NASDAQ:PARA) Ignore Bronfman’s Offer
- Paramount+ Essential available for Charter’s Spectrum TV Select, Mi Plan Latino