The upgrade comes as the firm is confident that the company's deals with Time Warner Cable (TWC) and Bright House Network will close in May, The Fly reports.
JPMorgan is recommending that investors wanting exposure to the combined company put new money into Charter at its current levels rather than through Time Warner Cable.
The firm maintained its $210 price target on the stock.
Additionally, five Democratic U.S. senators including presidential candidate Bernie Sanders told the Justice Department and the Federal Communications Commission that they have "significant concerns" about the planned acquisitions of Time Warner Cable and Bright House, Reuters reported.
In a letter to the two agencies the senators said the deals will create "a nationwide broadband duopoly," as Charter and Comcast Corp. (CMCSA) are in about two-thirds of U.S. high-speed broadband homes.
Both agencies are currently reviewing the deals.
Separately, TheStreet Ratings has set a "hold" rating and a score of C- on Charter Communications stock. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and relatively strong performance when compared with the S&P 500 during the past year. However, as a counter to these strengths, TheStreet Ratings also finds weaknesses including deteriorating net income, weak operating cash flow and feeble growth in the company's earnings per share.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CHTR