11:33 AM EDT, 07/28/2025 (MT Newswires) -- Charter Communications ( CHTR ) delivered lower-than-expected broadband and mobile subscriptions in Q2 amid a hike in non-pay churn, BofA Securities said in a note Sunday.

Broadband trends, excluding the Affordable Connectivity Program, deteriorated year on year, while EBITDA was flat from a year earlier, excluding one time items, the note said.

"Broadband competitive intensity has not relented and will remain challenging as Telcos accelerate deployments," it said.

Still, the note said CHTR remained best positioned among cable operators to defend its share due among others to rural footprint expansion and support from an improved video offering.

"While the environment remains fiercely competitive, we believe broadband trends will improve Y/Y in 2H25 and 2026," the note said, adding that the company "will likely remain the fastest growing mobile provider in the US."

BofA kept its buy rating while lowering its price target to $440 from $500.

Charter shares were down about 3% in recent trading.

Price: 300.09, Change: -9.66, Percent Change: -3.12