Analysts Offer Insights on Services Companies: Charter Communications (NASDAQ: CHTR) and Boyd Gaming (NYSE: BYD)

By Jason Carr

There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on Charter Communications (NASDAQ: CHTR) and Boyd Gaming (NYSE: BYD) with bullish sentiments.

Charter Communications (NASDAQ: CHTR)

In a report issued on July 27, Jeffrey Wlodarczak from Pivotal Research reiterated a Buy rating on Charter Communications (NASDAQ: CHTR), with a price target of $405. The company’s shares closed on Friday at $370.26, close to its 52-week high of $372.37.

Wlodarczak commented:

“We made modest changes to our ’18 and beyond forecasts mainly around the ramp in free cash flow although we still forecast $40 in FCF share forecast in ’20. The changes drove a $5 increase in our YE’17 target price to $405. This target is based on CHTR trading at 10X’18 EBITDA (adding back NPV of NOL) and 20X ’18 FCF vs. 9.4X and 18X currently. Reiterate BUY.”

According to TipRanks.com, Wlodarczak is a 5-star analyst with an average return of 11.6% and a 74.2% success rate. Wlodarczak covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Liberty Global PLC LiLAC Class A, and Liberty LiLAC Group.

Currently, the analyst consensus on Charter Communications is Moderate Buy and the average price target is $359, representing a -3.0% downside.

In a report issued on July 12, Macquarie also reiterated a Buy rating on the stock with a $365 price target.
Boyd Gaming (NYSE: BYD)

In a report issued on July 28, Carlo Santarelli from Deutsche Bank reiterated a Buy rating on Boyd Gaming (NYSE: BYD), with a price target of $29. The company’s shares closed on Friday at $25.20, close to its 52-week high of $26.67.

According to TipRanks.com, Santarelli is a 5-star analyst with an average return of 10.4% and a 72.3% success rate. Santarelli covers the Services sector, focusing on stocks such as Melco Resorts & Entertainment Limited, International Game Technology, and Marriott International.

Boyd Gaming has an analyst consensus of Moderate Buy, with a price target consensus of $28.

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