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Fly News Breaks for October 14, 2019
TMUS, FOXA, ATUS, CMCSA, CHTR
Oct 14, 2019 | 06:14 EDT
Cable sentiment remains positive going into Q3 earnings due to expectations of continued strength in unit and pricing growth, Barclays analyst Kannan Venkateshwar tells investors in a research note. While video trends could be weaker, the narrative around video "has flipped with investors starting to see this as a positive," according to Venkateshwar. The analyst believes these trends are likely to be supportive of shares in the near term, but he cautions against extrapolating them over the longer term. He increased his price target for Underweight-rated Charter Communications (CHTR) to $338 from $259, for Overweight-rated Comcast (CMCSA) to $48 from $45 and for Overweight-rated Altice USA (ATUS) to $33 from $30. Venkateshwar also lowered his price target for T-Mobile (TMUS to $88 from $93 and for Sprint (S) to $6 from $8 due to lower deal probability as a result of the states' lawsuit.