UPDATE: Jefferies Raises PT on Charter Communications Following Solid 2Q Results

In a report published Thursday, Jefferies analyst Thomas Seitz reiterated a Hold rating on Charter Communications CHTR, and raised the price target from $110.00 to $140.00.

In the report, Jefferies noted, “In our view, solid 2Q results continue to demonstrate the ability of CHTR management to improve operations. Additionally, the company could be at the center of M&A activity in the cable industry, with John Malone referring to the company as "a horizontal acquisition machine". Our price target goes to $140 (from $110).”

Charter Communications closed on Wednesday at $129.63.