MoffettNathanson cut its price target on Charter Communications (CHTR) to $490 from $700. The cut followed recent financial disclosures that raised concerns about the company’s growth prospects.
Charter reported second-quarter 2026 revenue of $13.53 billion, down 1.7% year over year. Weakness in residential video and internet services drove the decline.
The company lost 172,000 internet customers during the quarter, amid increased competition from fixed-wireless and fiber providers. Earnings per share beat estimates, but the revenue decline and subscriber losses have fueled a bearish outlook for the stock.