Charter's results have been strong lately, with mobile revenues per user rising sharply and capital efficiency substantially increasing.
I am shifting from Bearish to Neutral. I am still not bullish, because of three countervailing factors.
Mobile revenue growth may be temporary. It appears to be based on features which would be easy to replicate.
After a few years' delay, there may be new life to my (admittedly premature) theory that cable-box revenues will decline drastically.
Even if not, Charter's high P/E ratio means much of the upside is already baked in.
Right after I finished the article on Altice (ATUS) that I just wrote, one of my regulars pointed out to me that I sounded less bearish on Altice than I had on Charter