Charter Rises on Analyst Upgrade

Stock up 3% on Canaccord ‘buy’ rating
Author:
Publish date:

Charter Communications shares rose $4.65 each (3.02%) in early trading Tuesday after Canaccord Genuity analyst Gregory Miller raised his rating on the stock to “Buy,” adding that he expects the mid-sized market cable operator to benefit from the pending Comcast-Time Warner Cable merger.

In his note, Miller expects Charter to report strong Q4 results Thursday, growing total revenue and cash flow by 7.8% and 6% respectively. Miller also predicts Charter will lose about 10,000 video customers in the period, finishing the year with 4.15 million customers.

“We believe strategic initiatives taken over the last year have created a solid foundation for future revenue and EBITDA growth, while declining capital intensity following a 2014 marked by elevated investment should enable more significant free cash flow growth in 2015 and beyond,” Miller wrote.

For the full story go to Multichannel.com.

Related