Charter Communications Inc. (CHTR) shares are up nearly 14% in afternoon trading Thursday, after the company delivered an encouraging forecast for its capital-expenditure plans. The stock is on track for its best single-day performance since at least December 2009, according to Dow Jones Market Data. Charter's stock is currently the second-best performer in the S&P 500 on Thursday, behind ( ) General Electric Co.'s (GE) stock, which is up 14.1% in afternoon trading. "It's been seemingly a long time since being a pure-play cable operator was a good thing," wrote MoffettNathanson analyst Craig Moffett, who rates the stock a buy with a $470 target price. "Charter is making that case. Rather eloquently, actually." Shares are still down 12% over the past 12 months, as the S&P 500 has fallen 0.4%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 31, 2019 13:17 ET (18:17 GMT)
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