UPDATE: Wolfe Research Downgrades Charter Communications (CHTR) to Underperform

Wolfe Research analyst John Janedis downgraded Charter Communications (NASDAQ: CHTR) from Peerperform to Underperform, PT $621.00 (from $712.00),

The analyst comments "Our new PT is $621 (vs. $712 prev.) based on 9.5x CY22E EV/EBITDA (vs. 10.4x EV/EBITDA prev.) which implies -5% downside. This is largely in-line with our EV derivation based on our LT Cable/Mobile TAM model. We downgrade from Peer perform to Underperform, given CHTR’s pure-play exposure to cable. With CHTR trading at the highest multiple among cable peers, we see the greatest risk to the co. should multiples compress further across the industry which we see as an increasingly likely scenario..."

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 $655.95 yesterday.

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