In a report published Wednesday, Wunderlich Securities analyst Matthew Harrigan reiterated a Buy rating and $55.00 price target on Liberty Global PLC LBTYA.
In the report, Wunderlich Securities noted, “Yesterday, Bloomberg reported that Buy-rated Liberty Global's (LBTYA) major quid pro quos for EU approval of the Ziggo purchase will be: i) sale of its Film 1 premium channel; ii) a pledge to maintain access for over-the-top entrants such as Netflix (NFLX-NR); and iii) an agreement not to discriminate against rivals that acquire its content. With Monday's indication that the EU will conclude its review of the Dutch Ziggo merger by November 3, we expect a vigorous resumption of repurchase activity in early November. Yesterday, Ziggo shareholders also approved all the requisite resolutions necessary to pursue the recommended public offer for the Dutch cable operator. We estimate that LBTYA's current stock price now actually implies negative 0.5% annual pricing deterioration through 2018.”
Liberty Global PLC closed on Tuesday at $43.21.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in