Wunderlich Securities Has Positive Outlook on Liberty Global PLC Following Bloomberg Report

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In a report published Wednesday, Wunderlich Securities analyst Matthew Harrigan reiterated a Buy rating and $55.00 price target on
Liberty Global PLCLBTYA
. 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.
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Posted In: Analyst ColorReiterationAnalyst RatingsMatthew HarriganWunderlich Securities
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