Wunderlich Securities Sees Overall Positive Q3 Results For Charter Communications

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In a report published Thursday, Wunderlich Securities analyst Matthew Harrigan reiterated a Buy rating and $197.00 price target on
Charter CommunicationsCHTR
. In the report, Wunderlich Securities noted, “Buy-rated Charter Communications (CHTR) released Q3 results two days early with a $1.5B bond offering in queue for this morning. The stock is down around 2% this morning, but we feel that the 1% vicinity shortfall in top line and EBITDA growth relative to WSI estimates is largely a timing function of where Charter CEO Tom Rutledge and his management team are in bending the growth curve for product bouquet penetration and pricing, not to mention incremental sales drop through to EBITDA. WSI's S&P 500 linked 2015 ‘as is' Charter target is $183, with deal closures dictating a $203 target. (The official $197 target is off reasonable 70% odds on closing.)” Charter Communications closed on Wednesday at $153.71.
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Posted In: Analyst ColorReiterationAnalyst RatingsMatthew HarriganWunderlich Securities
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