Rosenblatt Slashes Price Targets On Charter Communication, Comcast - Read Why - Comcast (NASDAQ:CMCSA), Charter Communications (NASDAQ:CHTR)

Rosenblatt analyst Barton Crockett reiterated Charter Communications, Inc CHTR with a Buy but reduced the price target by 17% to $607.
He remained Neutral on Comcast Corp CMCSA and slashed the price target by 18% to $42.
Crockett reduced the cable growth expectations for its updated industry analysis, which suggested the pandemic accelerated the progression of U.S. broadband towards saturation of the Total Addressable Market, lessening industry growth potential from here.
He saw the competition increasingly challenged by big rollouts of new fixed wireless and fiber alternatives.
Therefore, he assumed the recent pattern of broadband sub growth missing consensus expectations continued.
During recessions, mobile growth, rural expansion, share repurchase, and a history of equity durability mitigated this headwind.
Price Action: CMCSA shares traded lower by 1.79% at $42.16 on the last check Monday.