In a report published Monday, Wunderlich Securities analyst Matthew Harrigan reiterated a Buy rating on Charter Communications CHTR, and raised the price target from $173.00 to $197.00.
In the report, Wunderlich Securities noted, “We are now raising our price target on Buy-rated Charter Communications (CHTR) to $197 from $173, based on pushing realization out to 2015 and a new assessment for integrating the former Time Warner Cable (TWC-$145.88, Buy) clusters. We think CHTR's 6% post earnings sell-off last week was partially due to unrealistic 2015 consensus expectations for the new TWC markets that are actually realizable only at least 18-24 months into the integration process. We had already done proportionate analysis melding the growth profiles and were not surprised by management's comments. WSI's S&P 500 linked 2015 ‘as is' Charter target is $188, with deal closures dictating a $203 target. (The official $197 target is off conservative 60% odds on closing).”
Charter Communications closed on Friday at $152.26.
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