UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Charter Communications
In a report published Wednesday, Morgan Stanley reiterated its Overweight rating on Charter Communications (NASDAQ: CHTR), and raised its price target from $78.00 to $80.00.
Morgan Stanley noted, “We project industry-leading EBITDA growth and falling capex to roughly triple FCF/shr from '11 to '14E to ~$9/shr. We expect sub acceleration seen in 1Q to continue as CHTR executes on its operating turnaround, with improving financials in 2H12 & ‘13.”
Charter Communications closed on Tuesday at $73.07.
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Tags: Morgan Stanley