Invest2Growcom
Oct 13, 6:11 PM
$CHTR CHTR is bouncing today, near 107.56, up about 4.95 percent, even with a Bernstein target cut on the tape.
Bernstein trimmed its price target to 120 from 150. That's a lower number, but it's still about 12 percent above where the stock trades now, so it doesn't by itself read as a call that the stock is headed lower.
I don't see a Charter specific headline behind the pop, so I'd call it a bounce. The stock has roughly halved since the end of last year, pressured by subscriber losses and competition, and a move like this fits a beaten down name catching a bid.
Earnings are expected in late October, so that's the next real test.
Follow me if you want to keep an eye on the cable names.
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