MoffettNathanson says ‘nothing else matters’ beyond broadband adds for Charter

MoffettNathanson notes that Charter had warned that broadband net adds would be negative, but consensus “was (inexplicably) still slightly positive” and the analyst questions did “anyone expect a loss of 61K subscribers?” When expectations and reality for broadband net additions have finally, eventually come into better balance, the catalyst for Charter, whether positive or negative, will be something other than just broadband net adds, says the analyst, but “until then, nothing else matters. Nothing.” The firm continues to rate Charter a Buy with a price target of $660.