Advanced Television

Bank praises US cable giants

December 2, 2020

Investment bank JP Morgan has issued strong “Overweight” advice on some US cable operators to its clients. The bank says that there’s a “spectrum of opportunity” for the pay-TV and broadband businesses.

In particular, it cites Charter as warranting an “Overweight” rating and recognising the cable operator’s strength in broadband. The company is given a price target of $735/share some 11 per cent ahead of its current value.

Charter’s rival Comcast is also rated as “Overweight” although its price target of $51/share although this is more or less level with its current price of $51.12.

JP Morgan has also focused on Altice USA where there are “solid fundamentals” and the bank gives it an “Overweight” rating and a price target of $40, which is some 17 per cent up on its current value.

However, JP Morgan does not see a merger happening between Dish Network and DirecTV, and doesn’t expect significant wireless announcements from Dish in the near future.

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