KryptonResearch14
Sep 28, 11:30 PM
$CHTR
New 52-week low today, as low as 110.35. That is down from 285.82 a year ago.
The trigger was Goldman, which cut its target to 110 from 120 on Friday and kept its sell rating.
The Street cannot agree on this name. Goldman’s sell sits at 110. TD Cowen has a buy at 380. The average target sits near 215, roughly double the price, against an overall consensus rating of Reduce.
The bear case is not the multiple. It is the subscriber base: broadband keeps leaking to fixed wireless while video keeps shrinking.
Roughly 4x trailing earnings, and nobody wants to pay up for it.
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