Charter Gets A ‘Buy’ In New Coverage
Research analysts at Guggenheim have started coverage on Charter Communications, which purchased Time Warner Cable and sibling Bright House Networks.
The brokerage set a “buy” rating, setting a $300 target on the company’s stock.
That represents 17.2% upside from yesterday’s close of $256.03 for CHTR shares.
Guggenheim’s coverage comes following a series of notable transactions by several large investors.
During Q1, Orbis Allan Gray Ltd., took a new stake in charter valued at $610.3 million. Meanwhile, Grantham Mayo Van Otterloo & Co. LLC increased its share count to 5.22 million (a $955.8 million stake).
Maverick Capital Ltd., took a $174.4 million stake in Charter during its fiscal Q4 2016, while in fiscal Q1 2017 Tybourne Capital Management HK Ltd. boosted its stake in Charter by 52.1%.
Citadel Advisors LLC in fiscal Q4 also took a huge stake in Charter, and now owns 603,163 shares of the company’s stock, valued at $110.4 million.
Charter also received a “buy” from Bank of America Corp. on August 2, with a $300 target price, while receiving an “overweight” rating from Morgan Stanley on June 29.