Stifel Nicolaus reiterated its Buy rating on Liberty Global LBTYA and increased its price target from $65.00 to $80.00.
Stifel Nicolaus said, "We are increasing our target price on the shares of Liberty Global to $80 from $65, rolling forward our multiple to 2014 and including a pro forma valuation which includes Virgin Media. … The $80 target approximates an 8.0x 2014e EBITDA multiple, inclusive of Virgin Media. Assuming a starting share count of approximately 414 million post-close, and a repurchase of $3.5b in shares within 2 years of closing, suggests the company would repurchase 32.5m shares through 2014 at an average $80 price."
Liberty Global closed at $66.06 on Wednesday.
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