Shares of Charter Communications Inc.
CHTR,
were ahead 0.6% in Monday morning action, putting the stock on track to rise for its seventh session in a row. A positive close for Charter would clinch the cable name’s longest winning streak since Sept. 2, 2021, according to Dow Jones Market Data. The stock increased for seven sessions consecutively during that 2021 run. It’s up 13.4% over its current seven-day rally. Wells Fargo analyst Eric Luebchow wrote last week that Charter could be one of the biggest beneficiaries of the opportunity in rural fiber, though he has an equal-weight rating on the stock amid an “umbrella of…heightened competitive intensity.” Shares of other telecommunications names have enjoyed notable streaks lately, with Altice USA Inc.
ATUS,
also on track to rise for the seventh session in a row. Meanwhile, shares of Frontier Communications Parent Inc.
FYBR,
are off 1.6% in Monday trading and on pace to snap a five-session winning streak.
