TD Cowen Remains Bullish on Charter Communications (CHTR)

Charter Communications, Inc. (NASDAQ:CHTR) is one of the best stocks to buy with over 50% upside potential. Charter Communications, Inc. (NASDAQ:CHTR) reported its fiscal Q3 results on October 31, with total revenue for the quarter declining 0.9% year-over-year to $13.7 billion. Management attributed the drop to lower residential video and advertising sales revenues. Residential connectivity revenue, however, rose 3.8% year-over-year.

The company further reported that net income attributable to Charter shareholders totaled $1.1 billion, while Q3 adjusted EBITDA was $5.6 billion, reflecting a 1.5% year-over-year decline.

The same day, TD Cowen analyst Gregory Williams maintained a buy rating on Charter Communications, Inc. (NASDAQ:CHTR) and set the price target at $428. The analyst told investors that the company has exhibited resilience through its fiscal performance despite looming pressures such as expected EBITDA challenges in fiscal Q4 and broadband subscriber losses.

Williams considers Charter Communications, Inc.’s (NASDAQ:CHTR) in-line EBITDA and revenue announcement to be positive indicators for investors, along with considerable share buybacks and substantial upside in free cash flow.

Charter Communications, Inc. (NASDAQ:CHTR) provides broadband communications services. The company’s offerings include Spectrum TV, Spectrum Internet, and Spectrum Voice. Charter Communications, Inc. (NASDAQ:CHTR) also offers data networking, business-to-business Internet access, video and music entertainment services, business telephone, and wireless backhaul.

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Disclosure: None. This article is originally published at Insider Monkey.