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Fly News Breaks for January 16, 2020
CHTR
Jan 16, 2020 | 08:22 EDT
As previously reported, Morgan Stanley analyst Benjamin Swinburne downgraded Charter to Equal Weight from Overweight with a price target of $540, up from $500. While he agrees with the consensus view that 2020 should be "a great year for Charter," Swinburne also thinks 2020 may be the peak EBITDA growth year. Also, while 2020 should see continued momentum on the customer front and consensus calls for share buybacks of $8B-$9B, these "robust" expectations are reflected in shares current price, said Swinburne. He also noted that if a Democrat is elected, the FCC could move back to Title II classification for broadband, which he does not believe would impact Charter's fundamentals but could be a possible source of downside risk.
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