Charter Communications Faces Analyst Warnings on Broadband Revenue Challenges
Portfolio Pulse from Anusuya Lahiri
Charter Communications (NASDAQ: CHTR) has been downgraded by Citigroup analyst Michael Rollins from Neutral to Sell, with a price target reduction from $280 to $255. The downgrade is due to challenges in the broadband revenue environment and the discontinuation of the Affordable Connectivity Program (ACP), which is expected to exacerbate subscriber and revenue headwinds. The stock fell by 0.74% to $301.25 following the downgrade.
July 05, 2024 | 2:58 pm
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Citigroup downgraded Charter Communications from Neutral to Sell, reducing the price target to $255 due to broadband revenue challenges and the discontinuation of the Affordable Connectivity Program (ACP). The stock fell by 0.74% to $301.25.
The downgrade by Citigroup and the reduction in the price target are significant negative signals for Charter Communications. The challenges in the broadband revenue environment and the discontinuation of the ACP are expected to impact subscriber and revenue growth negatively. The stock's immediate decline of 0.74% reflects investor concerns.
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IMPORTANCE 90
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