Truist upgrades Comcast, Charter to Buy with risks ‘well understood’

As previously reported, Truist analyst Greg Miller upgraded both Comcast (CMCSA) and Charter Communications (CHTR) to Buy from Hold with price targets of $50 of $550, up from $34 and $380, respectively. The analyst believes the risks facing the companies from fixed wireless and fiber are now "well understood," leaving the shares oversold. While investors in 2022 recognized that broadband flow share trends fundamentally changed, efforts to "stem the erosion are proving successful and should once again cause the stocks to trade at traditional premiums to telecom stocks," Miller tells investors in a research note.