UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Charter Communications

In a report published Wednesday, Morgan Stanley reiterated its Overweight rating on Charter Communications CHTR, and raised its price target from $78.00 to $80.00. Morgan Stanley noted, “We project industry-leading EBITDA growth and falling capex to roughly triple FCF/shr from '11 to '14E to ~$9/shr. We expect sub acceleration seen in 1Q to continue as CHTR executes on its operating turnaround, with improving financials in 2H12 & ‘13.” Charter Communications closed on Tuesday at $73.07.