Analyst Note
| Michael Hodel, CFA |Charter continues to take advantage of strong demand for broadband service amid the pandemic, handily outperforming peers Comcast or Altice USA and our expectations. We’ve increased our expectations for customer growth, bumping our fair value estimate to $515 from $480. We still believe Charter’s stock price assumes an overly optimistic future and that its heavy debt load will produce high volatility as performance ebbs and flows.