Charter's Future Brightens With Disney Deal And Network Upgrades: Analyst
Portfolio Pulse from Anusuya Lahiri
Benchmark analyst Matthew Harrigan has maintained a Buy rating for Charter Communications Inc (CHTR) and raised the price target from $575 to $600. The analyst's positive stance is based on Charter's new programming template with Walt Disney Co (DIS), the upcoming launch of the Xumo Stream Box, and the upgrade of Charter’s network to multi-gig symmetrical speeds. Harrigan expects Charter's 3Q23 total sales to increase 1.1% to $13.71 billion, with EBITDA up 1.3% to $5.48 billion. He also estimates Charter gained 61K residential broadband customers in 3Q23.
October 18, 2023 | 5:36 pm
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NEUTRAL IMPACT
Verizon Communications Inc. is mentioned in relation to Charter's mobile and converged broadband growth momentum.
Verizon is mentioned as part of Charter's growth strategy, but the impact on Verizon's stock is unclear.
CONFIDENCE 65
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
Charter Communications Inc's stock is expected to perform well due to a positive analyst rating, a new partnership with Disney, and network upgrades.
The analyst's positive rating, increased price target, and the expected increase in sales and customer base are likely to have a positive impact on Charter's stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The new programming template with Charter Communications Inc is expected to benefit Walt Disney Co.
The partnership with Charter is likely to expand Disney's reach and could have a positive impact on its stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50