Charter price target lowered to $265 from $325 at RBC Capital

RBC Capital analyst Jonathan Atkin lowered the firm’s price target on Charter (CHTR) to $265 from $325 and keeps a Sector Perform rating on the shares. The company’s Q3 EBITDA and broadband subscriber results were below estimates, while its free cash flow benefited from the timing of cash taxes, the analyst tells investors in a research note. The firm has trimmed its estimates for broadband subscribers and ARPU given its expectations of a more intense completion against fiber and FWA providers, RBC added.