Top 5 Cheap Stocks to Buy with Biggest Upside Potential

2. Charter Communications, Inc. (NASDAQ:CHTR)

Charter Communications, Inc. (NASDAQ:CHTR) is one of the top cheap stocks to buy with the biggest upside potential. JPMorgan resumed coverage of Charter Communications, Inc. (NASDAQ:CHTR) with a Neutral rating on April 29, bringing the price target on the stock down to $215 from $400. The rating update came after a period of restriction, with the firm telling investors in a research note that the stock’s current valuation remains “undemanding”. However, it also added that Charter Communications, Inc.’s (NASDAQ:CHTR) fiscal Q1 results highlight the competitive intensity and challenges facing cable operators as they defend broadband share.

In another development, BofA cut the price target on Charter Communications, Inc. (NASDAQ:CHTR) to $250 from $310 on April 27, and maintained a Buy rating on the shares. The firm told investors in a post-earnings note that fiscal Q1 was “undeniably pressured” as revenue and EBITDA declined, broadband losses remain elevated, and free cash flow was weighed down by still significant capex. However, it added that the magnitude of the stock reaction post-earnings “feels disconnected from the overall company trajectory”.

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