Charter upgraded to Outperform from Market Perform at Bernstein

Bernstein analyst Laurent Yoon upgraded Charter to Outperform from Market Perform with a $370 price target, reflecting a 25% upside. While the firm acknowledges that Charter has a clear set of challenges to navigate near-term, it believes the market has more than priced in these risks given the potential persistence of them. Currently, trading at 5-year low multiples, Bernstein expects the stock to rebound meaningfully as risks play out throughout 2024 and into 2025, shifting mid-term risks to short-term headwinds to mitigate.