UPDATE: Morgan Stanley Raises PT on Charter Communications on Anticipated Accelerating Growth
In a report published Friday, Morgan Stanley analyst Benjamin Swinburne reiterated an Equal-Weight rating on Charter Communications (NASDAQ: CHTR), and raised the price target from $84.00 to $100.00.
In the report, Swinburne noted, “Shares have outperformed on the anticipation of accelerating growth and the Liberty investment, which at a minimum reduces downside risk. For shares to outperform further and consensus prove low, CHTR will likely need to deliver top line growth approaching that of pending acquisition Bresnan. Our Sept. ‘12 downgrade was based on a view that expectations had run ahead of valuation, and that view remains the case today given the share appreciation.”
Charter Communications closed on Friday at $103.28.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.