Jefferies Raises Price Target on Charter Communications (CHTR) to $280
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Jefferies reiterated a Hold rating on Charter Communications (NASDAQ: CHTR), and raised the price target to $280.00 (from $244.00), following the company's 3Q.
Analyst Mike McCormack commented, "Despite modestly weaker sub metrics and in-line revenue, Charter reported strong EBITDA growth as synergies appear to be coming at a faster pace. While navigating a complex integration, the company is executing at a high level, though still faces heavy lifting in all-digital and Spectrum deployments across the acquired base. The elevated synergy outlook provides comfort, helping fund investments and to mitigate the costs of in-sourcing still to come."
Shares of Charter Communications closed at $247.42 yesterday.
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