Charter Communications Given New $197.00 Price Target at Wunderlich (CHTR)
Equities researchers at Wunderlich increased their price target on shares of Charter Communications (NASDAQ:CHTR) from $173.00 to $197.00 in a research report issued on Monday. The firm currently has a “buy” rating on the stock. Wunderlich’s price target would suggest a potential upside of 29.38% from the company’s current price.
The analysts wrote, “We are now raising our price target on Buy-rated Charter Communications (CHTR) to $197 from $173, based on pushing realization out to 2015 and a new assessment for integrating the former Time Warner Cable (TWC-$145.88, Buy) clusters. We think CHTR’s 6% post earnings sell-off last week was partially due to unrealistic 2015 consensus expectations for the new TWC markets that are actually realizable only at least 18-24 months into the integration process. We had already done proportionate analysis melding the growth profiles and were not surprised by management’s comments. WSI’s S&P 500 linked 2015 ‘as is’ Charter target is $188, with deal closures dictating a $203 target. (The official $197 target is off conservative 60% odds on closing).”
A number of other firms have also recently commented on CHTR. Analysts at ISI Group raised their price target on shares of Charter Communications from $145.00 to $180.00 in a research note on Monday, July 21st. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group downgraded shares of Charter Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 17th. They now have a $175.00 price target on the stock, up previously from $160.00. Finally, analysts at Barclays raised their price target on shares of Charter Communications from $125.00 to $157.00 in a research note on Monday, July 7th. They now have an “equal weight” rating on the stock. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Charter Communications currently has an average rating of “Hold” and an average target price of $144.50.
Shares of Charter Communications (NASDAQ:CHTR) traded up 1.05% during mid-day trading on Monday, hitting $153.855. 170,014 shares of the company’s stock traded hands. Charter Communications has a one year low of $116.78 and a one year high of $167.30. The stock has a 50-day moving average of $157.9 and a 200-day moving average of $138.9. The company’s market cap is $16.715 billion.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.42) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.18 by $0.60. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the company posted ($0.96) earnings per share. Charter Communications’s revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that Charter Communications will post $0.55 earnings per share 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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