Argus Starts Charter Communications (CHTR) at Buy, $300 PT
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Rating Summary:
17 Buy, 23 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Argus initiates coverage on Charter Communications (NASDAQ: CHTR) with a Buy rating and a price target of $300, following its acquisitions of Time Warner Cable and Bright House Networks
The analyst said while the TWC and BH acquisitions have added significant scale to Charter, management has cautioned that upgrading and integrating the acquired systems will take several years. The integration will also entail high capital expenditures and operating costs.
"Still, we see significant opportunities for Charter as system upgrades proceed under the management of cable industry veteran Thomas Rutledge, the former COO of Cablevision," the analyst said.
For an analyst ratings summary and ratings history on Charter Communications click here. For more ratings news on Charter Communications click here.
Shares of Charter Communications closed at $232.01 yesterday.
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