UPDATE: Citi Lowers PT on Liberty Global from $55 to $50

Citi has published a research report on Liberty Global Inc (NASDAQ: LBTYA) lowering the price target.

In the report, Citi wrote, "Back in '08, Western Europe (WE) generated just 29% of LGI's revenues. With acquisition of Unitymedia, KBW and Aster and the disposition of J-COM, Austar and Slovenia, expect WE to comprise 53% of LGI's revenues in '12. Moreover, the 'core' wholly owned assets (including VTR) will comprise 81% of revenues by '12, up from 54% in '08."

Citi rated Liberty Global a Buy with a price target lowered from $55.00 to $50.00. Liberty Global closed Wednesday at $39.63.