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Fly News Breaks for April 26, 2016
TWC, CHTR
Apr 26, 2016 | 06:20 EDT
JPMorgan analyst Philip Cusick recommends buying shares of Charter Communications (CHTR) even after yesterday's rally and tells investors to swap out of Time Warner Cable (TWC) and into Charter. The merger conditions imposed by the Department of Justice and Federal Communications Commission "are not overly onerous," Cusick tells investors in a research note after both agencies approved Charter's acquisition of Time Warner Cable. He expects "significant demand" for shares of Charter once the deal closes and has a $233 year-end valuation for the stock. Charter closed yesterday up $9.10 to $207.01. Time Warner Cable closed yesterday up $8.32 to $209.76.
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