Comcast and Charter shares will continue to face pressure from here, according to Atlantic Equities. Analyst Hamilton Faber downgraded both companies to neutral and lowered estimates, pointing to poor quarterly results. “For Q2, both companies reported essentially no broadband additions, by far the worst results since both companies launched the service. Obviously the two companies company is facing more pressure than we anticipated,” Faber wrote. “While Q2 has always been a seasonally weaker quarter due to college disconnects (for 2015-2019, Q2 was 14% annual additions to Comcast and 18% annual additions to Charter), weakness This quarter is more of a seasonality and we anticipate problems to persist for some time,” Faber added. The two companies are facing challenges that analysts don’t believe will end within the next 18 months, including “severe” broadband additions that will continue next year. “In the absence of strong broadband volume, we believe valuations will remain under pressure and will lack the catalyst to ignite investor interest,” Faber added. The analyst lowered his Comcast price target to $44 per share from $60, a cutoff of about 27%. The new price target is 10% above the stock’s closing price on Friday. Charter’s price target has dropped to $477 from $755, down 37%. It is slightly below Friday’s closing price of $478.12. Comcast and Charter shares are down about 20% and 26% this year, respectively. — Michael Bloom of CNBC contributed to this report. Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC.