Both Bank of America and Argus recently upgraded the shares of this communications company to ‘Buy’.
Charter Communications, Inc. (CHTR)
From Martin’s Ultimate Portfolio
We will allocate 2% of our original $100K portfolio to buy shares in Charter Communications, Inc. (CHTR, Weiss Stock Rating B) at a limit price of $258.79, good till cancelled.
Charter Communications is the second largest cable TV and broadband provider in the U.S. after competitor Comcast. The Stamford, CT company provides its cable and broad band services (internet, phone, TV) to 25.6 million customers in the U.S.
CHTR has a number of positives going for it, and that’s why we want to buy on this modest setback. Recent financial highlights include:
• Grew customer base by 5.1% during the second quarter, with revenues up 6.6% and commercial revenues increasing by a whopping 13.4%.
• Generated $330 million in free cash flow in Q2 and $568 million for the year.
• Operating earnings (EBITDA) grew by 13.4%, and margins increased to 35.4%.
• Added $3.7 billion in revenue—causing the stock to be upgraded.
Charter’s recent acquisition of Time Warner Cable and Legacy Bright House boosts market share and puts the company on a strong growth trajectory. A great strategy to capitalize on greater viewership coming from the U.S. election cycle.
Martin D. Weiss, Martin’s Ultimate Portfolio, published by Money and Markets, a Division of Weiss Research, Inc., www.moneyandmarkets.com/services/trading-service/martinsultimate-portfolio; Email: issues@e.moneyandmarkets.com, 800-291- 8545, August 18, 2016