ISI: Charter Doing Okay

In a research report published today by ISI, Charter Communications (NASDAQ: CHTR) is doing okay, considering video losses and impressive broadband results.

“Of the results that weren't preannounced, we'd say things were “OK” overall. Revenues came in spot in-line with consensus at $1.83B. Adjusted EBITDA was reported to be $686MM, which was simply in-line with consensus expectations, and more troubling, flat from a year ago (more on that discussion below). EBITDA margins retreated 90bps on a y/y (pro forma) basis,” ISI stated in the report.

ISI maintains its Buy rating and $60 PT on Charter, which is currently trading at $62.79.