Brokerage cuts PT on Liberty Global, expects mixed Q2 results

Liberty Global

07/07/2023 18:06

** Brokerage Berenberg cuts PT on British telecommunications
company Liberty Global Plc  LBTYA.O  to $26 from $33
    ** Still, new PT represents an upside of 47.6% to stock's
last closing price of $17.61
    ** Brokerage expects company's Q2 results to be mixed, with
scope for disappointment due to an only modest acceleration in
UK revenue after April's price increases
    ** Consistent buybacks driving cash flow per share growth
over time is one of the main reasons to be supportive of Liberty
Global shares in the medium term - brokerage
    ** However, U.S.-listed shares of Liberty Global up 2.1% at
$17.98
    ** Average rating of 15 analysts covering the stock is
"buy"; median PT is $25 - Refinitiv
    ** Up to last close, stock down ~7% YTD

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))