UPDATE: ISI Group Reiterates Buy Rating, Raises PT on Charter Communications
In a report published Monday, ISI Group reiterated its Buy rating on Charter Communications (NASDAQ: CHTR), and raised its price target from $85.00 to $88.00.
ISI Group noted, “Charter increased video prices by $2/month in March'12 and they also had a substantive overhaul of their packages in the middle of 2012. Letters have just been sent out to customers, with an aim toward creating uniform national pricing. The increases will take place in mid- to late-February, and will vary by area. A significant majority of customers will see an increase. Charter is not changing voice pricing though, but Internet service will increase by up to $5/month, and video rate increases will range from $0 to $5/month. The Broadcast TV surcharge increase will vary, but will bring everyone nationwide up to $2.15/month. Charter has fewer price lock guarantees than previously, but those who are still under them won't see price increases until their lock-up period is over. There will be an increase in the equipment fee (HD/DVR) of $5/TV outlet, which will now be $5.99/month.”
Charter Communications closed on Friday at $80.68.
Latest Ratings for CHTR
|May 2015||Canaccord Genuity||Maintains||Buy|
|Apr 2015||Morgan Stanley||Initiates Coverage on||Overweight|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.