Charter Communications (CHTR) Earnings Preview, Tough Comps Ahead - UBS
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UBS analyst John Hodulik reiterated a Buy rating and $700.00 price target on Charter Communications (NASDAQ: CHTR) ahead of 1Q results that will begin to lap the high growth in 2020.
The analyst stated "Charter expects some of the cost savings in 2020 to reverse with higher activity in 2021 while programming costs increase at a higher rate (sports shift, renewals, etc). This will likely lead to limited margin expansion this year but at ~38% vs. low-to-mid 40% at peers we believe there is ample room for upside going forward. Along with improving wireless dilution (UBSe breakeven in 2022), we expect margins to expand ~200 bps in 2022 to 40%+, driving 10% EBITDA growth."
Shares of Charter Communications closed at $637.62 yesterday.
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