Benchmark analyst Matthew Harrigan raised the firm’s price target on Charter (CHTR) to $455 from $425 and keeps a Buy rating on the shares. The $455 price target is “admittedly more of a fair value assessment than a near-term trading expectation and is off a forecast through 2030,” notes the analyst, who say it reflects the Cox Communications acquisition and concomitant Liberty ownership roll-in with a key element being a single OIBDA multiple pro forma for the Cox acquisition.
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Read More on CHTR:
- Charter price target raised to $200 from $180 at Wells Fargo
- Charter Communications: Persistent Broadband and EBITDA Headwinds Justify Continuing Sell Rating Despite Low Valuation
- Amended Charter Stockholders Agreement Gives A/N and Cox Preemptive Rights, Raising Dilution Risk for Other Class A Investors
- Charter price target lowered to $185 from $210 at Goldman Sachs
- Charter Communications Balances Growth Investments With Strains