Citi downgraded Charter to Sell from Neutral with a price target of $255, down from $280. The company faces risks to both consensus estimates and to valuation as the organic broadband environment is getting “tougher” relative to expectations, the analyst tells investors in a research note. The discontinuation of ACP, orAffordable Connectivity Program, is also liekly to exacerbate broadband subscriber and revenue headwinds over the next 12 months, with consensus 2025 EBITDA expectations now looking “too optimistic”, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CHTR:
- Birkenstock upgraded, Charter initiated: Wall Street’s top analyst calls
- Charter initiated with a Sell at Goldman Sachs
- Charter put volume heavy and directionally bearish
- Affordable Connectivity Program vote again delayed by Senate, says Citi
- Affordable Connectivity Program vote again delated by Senate, says Citi