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Charter Communications Upgraded to buy by Jefferies

Charter Communications, Inc. (NASDAQ:CHTR) shares were upgraded to buy from hold by Jefferies with a price target of $150 a share, $25 above the prior price target level. Jefferies believes that the market is too focused on Charter’s failed attempt to acquire Time Warner Cable Inc (NYSE:TWC), while ignoring Charter’s free cash flow growth. Since failing to acquire TWC, Charter shares have been underperforming the market. But according to Jefferies, Charter’s free cash flow growth will yield more opportunities for future M&A activities should the company choose to go in that direction. In addition, Jefferies also sees better operational performance from Charter.