Capital Outlays in Wireless Could Rile Charter Investors, Moffett Says
While cable has big opportunities in wireless, investors are "so single-mindedly focused" on Charter Communications' 2019 and 2020 cash flows that anything that could disrupt its free cash flow per share -- such as capital spending on wireless -- "could…
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trigger disappointment" among those same investors, MoffettNathanson analyst Craig Moffett wrote investors Tuesday as the firm downgraded its rating of Charter to "neutral." He said cable -- now enjoying a contraction of regulatory pressures with the FCC reversing itself on business data services and set-top boxes -- likely will face a relatively quiet regulatory front after the election until at least early 2017. Charter didn't comment.