Raymond James Downgrades Charter Communications (CHTR) to Outperform

March 16, 2020 7:31 AM EDT
Get Alerts CHTR Hot Sheet
Price: $747.63 -1.09%

Rating Summary:
    24 Buy, 14 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 8 | New: 46
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Raymond James analyst Frank Louthan downgraded Charter Communications (NASDAQ: CHTR) from Strong Buy to Outperform with a price target of $500.00 (from $600.00).

The analyst commented, "We are lowering our rating on Charter to Outperform from Strong Buy due to its increased leverage that we believe will make it difficult to outperform as recessionary fears materialize. As we point out elsewhere, the need for broadband should increase in this environment (likely explaining why it is only down 16.3% since 2/19/20, better than the market), with some offsetting margin pressure from additional benevolent actions undertaken by Charter and at the behest of the FCC."

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 $454.19 yesterday.

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