Charter Communications Coverage Initiated at Wunderlich (CHTR)
Wunderlich assumed coverage on shares of Charter Communications (NASDAQ:CHTR) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $170.00 price target on the stock. Wunderlich’s price objective would indicate a potential upside of 28.31% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of Charter Communications, Inc. (CHTR) with a Buy rating and $170 price target. The latter is arrived at through a valuation model that re-couples media stocks to the S&P 500 rather than assigning arbitrary multiples. The underlying operating model integrates our Verizon FiOS/AT&T u-Verse competition, with CHTR benefiting from only a 4% overlap against very competitive FiOS and a superior product proposition against a near 30% u-Verse footprint. Well regarded (to some, iconic) Charter CEO Tom Rutledge will likely be facile in closing some of the gap to peers in product penetration and EBITDA contribution per passing. We also assess the technology roadmap and cost impact of improved operations for both MSOs in any Time Warner Cable (TWC-$111.02, Hold) merger.”
A number of other firms have also recently commented on CHTR. Analysts at Guggenheim raised their price target on shares of Charter Communications from $108.00 to $140.00 in a research note to investors on Tuesday, August 20th. They now have a “neutral” rating on the stock. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Charter Communications in a research note to investors on Monday, August 19th. They now have a $120.00 price target on the stock, up previously from $95.00. Finally, analysts at Barclays Capital cut their price target on shares of Charter Communications from $136.00 to $133.00 in a research note to investors on Friday, August 16th. They now have an “equal weight” rating on the stock. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $119.76.
Charter Communications (NASDAQ:CHTR) traded up 0.42% during mid-day trading on Tuesday, hitting $133.04. The stock had a trading volume of 151,755 shares. Charter Communications has a 52-week low of $67.06 and a 52-week high of $137.29. The stock has a 50-day moving average of $128.2 and a 200-day moving average of $118.3. The company’s market cap is $13.496 billion.
Charter Communications (NASDAQ:CHTR) last released its earnings data on Tuesday, August 6th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $1.32. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the company posted ($0.84) earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Charter Communications will post $-0.70 EPS for the current fiscal year.
Charter Communications, Inc (NASDAQ:CHTR) provides cable services in the United States, offering a range of entertainment, information and communications solutions to residential and commercial customers.
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