Charter Communications (CHTR) PT Bumped to $289 at Macquarie
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Macquarie analyst Amy Yong raised her price target on Outperform-rated Charter Communications (NASDAQ: CHTR) to $289.00 (from $286.00), saying while there have been a few bumps in the road, management is paving the way to long-term sustainable growth.
Yong commented, "Trucks are rolling out Spectrum to 40% of the country by year-end and 100% by March '17. These investments are laying the ground work for an acceleration in product development and industry-leading offerings in video, ad, and wireless. Our target goes to US$289 based on 16x ’18E FCF/sh of ~US$18/sh."
Shares of Charter Communications closed at $275.40 yesterday.
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