Charter Communications (CHTR – Research Report), the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst Jessica Reif Ehrlich from Bank of America Securities reiterated a Buy rating on the stock and has a $450.00 price target.
Jessica Reif Ehrlich has given her Buy rating due to a combination of factors that highlight Charter Communications’ strong financial and operational performance. The company’s recent quarterly results exceeded expectations, with revenue, EBITDA, and free cash flow surpassing estimates, aided by effective expense management and a one-time expense benefit. Additionally, Charter’s video and mobile subscriber numbers outperformed forecasts, while broadband net losses were only slightly below projections.
Looking ahead to 2025, several positive factors are expected to drive subscriber improvements for Charter. The company has moved past losses related to the Affordable Connectivity Program, and rural network expansions are set to increase. Moreover, a new video offering, combined with strategic data services, is anticipated to reduce churn and boost customer engagement. Network upgrades are also expected to contribute to operational enhancements. These elements, along with a forecasted EBITDA growth of 1.6% and increased share repurchases, underpin the Buy rating and the price objective of $450.
Reif Ehrlich covers the Communication Services sector, focusing on stocks such as Charter Communications, Comcast, and Sirius XM Holdings. According to TipRanks, Reif Ehrlich has an average return of 4.8% and a 48.17% success rate on recommended stocks.
In another report released today, Citi also maintained a Buy rating on the stock with a $445.00 price target.