Charter Communications, Inc. (CHTR) Defends Cox Merger, Analysts Split on Stock Prospects

Charter Communications Inc (NASDAQ:CHTR) is one of the best beaten down stocks to invest in according to analysts. On December 22, UBS analyst John Hodulik reiterated a Hold on Charter Communications Inc (NASDAQ:CHTR) with a $233 target.

On December 5, Charter Communications defended its proposed $34.5 billion merger with Cox Communications from allegations it would create an internet giant with excessive market power. In a filing with the Federal Communications Commission, the companies reiterated that the deal will not result in a combined company that is an “internet gatekeeper.”

The merger will result in internet service provider Cox Communications becoming the largest broadband provider, with about 36 million broadband subscribers and 70 million homes and businesses passed. According to advocacy groups, the combined company will be a behemoth with less competition.

Meanwhile, on December 3, CFRA analysts reiterated their pessimism about the deal’s ability to address the industry’s underlying negative trends. According to the research firm, the company is still struggling with higher subscriber losses in broadband. Consequently, the research firm has downgraded the stock to a strong sell with a $165 price target.

Charter Communications, Inc. (NASDAQ:CHTR)is a major US broadband connectivity and cable company that provides high-speed internet, mobile, TV (video), and voice (phone) services to residential and business customers, focusing on integrated entertainment and communication solutions across 41 states.

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