Barclays Turns More Bearish on Cable Industry, Charter With Downgrade

Cable is facing "increasing headwinds" in the form of more video competition, slowing broadband growth, their balance sheets and more-uncertain merger and acquisitions permutations, Barclays analyst Kannan Venkateshwar wrote investors Monday, downgrading the cable and DBS industry to neutral, and Charter Communications to underweight. He said Charter faces high programming cost growth and wireless launch costs atop its reluctance to raise broadband prices. Charter didn't comment.