Charter price target raised to $500 from $450 at JPMorgan

JPMorgan analyst Philip Cusick raised the firm’s price target on Charter Communications to $500 from $450 and keeps an Overweight rating on the shares. The company reported “solid” Q2 results and reiterated its goal of higher total broadband net adds in 2023 versus 2022, the analyst tells investors in a research note. The firm says that while broadband seasonality is more muted in the current environment, it expects a pick up in broadband subscribers in the back half aided by Charter’s growing rural footprint.