Charter Jumps 5% Premarket After Fund Manager Picks Stock As Key Call

By Sara Sjolin Markets MarketWatch Pulse

Shares of Charter Communications Inc. jumped 5% in thin premarket trade on Friday after a top European hedge fund manager recommended buying the stock. Chris Hohn, founder of TCI Fund Management, said Charter shares could double or triple in coming years as the company continues to grow "its top-line strongly through subscriber growth and pricing." Hohn was speaking at the Sohn conference in London on Thursday. The TCI manager also said Charter is likely to buy back 35% of its shares in coming years at higher prices than where they are today.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.