Gregory Williams, an analyst from TD Cowen, maintained the Buy rating on Charter Communications (CHTR – Research Report). The associated price target was raised to $520.00.
Gregory Williams has given his Buy rating due to a combination of factors that highlight Charter Communications’ strategic positioning and financial performance. The company reported mixed first-quarter results, with revenue aligning with expectations and EBITDA surpassing forecasts. Despite experiencing a decline in broadband subscribers, the losses were less severe than anticipated, especially when compared to competitors like Comcast, which contributed to a positive market reaction.
Charter’s ongoing efforts to revamp its branding and pricing strategy, particularly with the introduction of the Life Unlimited initiative, are expected to stabilize and potentially grow its subscriber base. Additionally, the company’s aggressive share buyback program, enabled by the Liberty Broadband transaction approval, signifies strong financial health and shareholder value enhancement. These factors, combined with management’s confidence in future growth and the company’s leading position in mobile line additions, support the Buy rating.
In another report released on April 25, Pivotal Research also maintained a Buy rating on the stock with a $540.00 price target.