Why Stock for MSO Charter Is on Fire

Feb 6, 2013  •  Post A Comment

"Charter Communications [stock] rose the most in more than a year after Liberty Global Inc.’s interest in buying Virgin Media Inc. stoked valuations for U.S. cable companies," Bloomberg reports

The article adds that yesteday, Feb. 5, 2013, "Charter, the No. 4 [MSO] in the market, climbed 6.3% to $81.53 at the close in New York, [Charter’s] largest gain since Aug. 9, 2011. Many large U.S. cable companies are undervalued relative to their European counterparts, Matthew Harrigan, an analyst at Wunderlich Securities Inc. in Denver, said in an interview. Investors may see Charter as a possible acquisition target, said Amy Yong, an analyst at Macquarie Securities who has a neutral rating on the shares."

The story also notes that "Hedge fund Lone Pine Capital LLC, run by Stephen Mandel, announced yesterday in a Securities and Exchange Commission filing it owned 7.1 percent of Charter, which also may be lifting the shares, Yong said." 



Your Comment

Email (will not be published)