5 Best Depressed Stocks To Buy in 2024

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1. Charter Communications Inc. (NASDAQ:CHTR)

Number of Hedge Fund Investors: 69

Charter Communications Inc. (NASDAQ:CHTR) shares are down 23% over the past one year. Last month, Bernstein increased its rating for the stock to Outperform from Market Perform, with a price target of $370.

Bernstein analysts think Charter Communications Inc.’s (NASDAQ:CHTR) valuation is now attractive and they see a recovery throughout 2024 and 2025.

Bernstein’s revised outlook for Charter Communications Inc. (NASDAQ:CHTR) includes a cautious yet optimistic stance.

Here is what Weitz Conservative Allocation Fund has to say about Charter Communications, Inc. (NASDAQ:CHTR) in its Q3 2023 investor letter:

We swapped the Fund’s Liberty Broadband Corporation (NASDAQ:LBRDK) shares back to Charter Communications, Inc. (NASDAQ:CHTR) (Charter is by far Liberty Broadband’s largest asset), and the combined position was the most notable quarterly contributor. Investor sentiment around broadband’s competitive position became less negative, and the stocks rebounded nicely from what we considered oversold levels.

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