Charter upgraded by Wolfe Research, citing multiple expansion, improved share
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Charter Communications (NASDAQ:CHTR) was upgraded by investment firm Wolfe Research on Wednesday, citing the possibility for multiple expansion and improved share in cable.
Analyst John Janedis raised his rating on Charter Communications (CHTR) to outperform from peer perform and put a $565 price target on the stock, noting that the current valuation accounts for a slight premium over Comcast (CMCSA). But over the medium-term, Janedis sees the opportunity for further expansion of the multiple as the competitive landscape reverts to a "rational quasi-dupoly."

Charter Communications (CHTR) shares were little changed in pre-market trading on Wednesday.