BofA Raises Price Target on Charter Communications (CHTR) to $500 from $450, Maintains a Buy Rating

Charter Communications, Inc. (NASDAQ:CHTR) is one of the 10 Cheap Large Cap Stocks to Buy According to Hedge Funds. On July 1, analyst Jessica Reif Ehrlich from Bank of America Securities maintained a Buy rating on Charter Communications, Inc. (NASDAQ:CHTR), raising the price target to $500.00 from $450.00.

The analyst supported the optimistic rating with the company’s performance, stating that it is anticipating improvements in broadband subscriber losses, primarily driven by losses related to the Affordable Connectivity Program and the continued success of its Spectrum Life Unlimited offering.

Ehrlich further stated that Charter Communications, Inc.’s (NASDAQ:CHTR) introduction of a new seamless video offering and its expansion into rural areas are expected to increase subscriber numbers and reduce churn. The company is poised for stability, according to the analyst, with a modest drop in revenue estimates offset by simultaneous expense reductions, resulting in no impact on EBITDA.

Charter Communications, Inc. (NASDAQ:CHTR) provides broadband communications services. The company’s offerings include Spectrum TV, Spectrum Internet, and Spectrum Voice. Charter Communications, Inc. (NASDAQ:CHTR) also offers data networking, business-to-business Internet access, video and music entertainment services, business telephone, and wireless backhaul.

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Disclosure: None. This article is originally published at Insider Monkey.