Liberty Global C (LBTYK) Gets a Buy Rating from Evercore ISI

By Jason Carr

In a report released yesterday, Vijay Jayant from Evercore ISI maintained a Buy rating on Liberty Global C (LBTYKResearch Report), with a price target of $33. The company’s shares opened today at $26.01.

Jayant observed:

“We expect shares to react positively to the tender offer, as it gives investors comfort that management views the company’s shares as an attractive place to invest right out of the gate. UK Gross Adds. LG lost (29)k RGUs in its cont. ops. during 2Q19, worse than our expectations of +10k RGUs. Virgin Media added only 6k RGUs in 2Q, substantially below our estimate of +50k, as gross adds were light due to lower promotional activity and a weaker overall market, while churn was flat YoY. UK, results were essentially in line. Revenue: UK Slightly Better. Topline for cont ops fell by (0.9)% in 2Q19 on a rebased basis, in line with our forecast.”

Jayant has an average return of 8.8% when recommending Liberty Global C.

According to TipRanks.com, Jayant is ranked #681 out of 5229 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Liberty Global C with a $33 average price target.

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The company has a one-year high of $28.77 and a one-year low of $19.24. Currently, Liberty Global C has an average volume of 2.67M.

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Liberty Global Plc is an international television and broadband company, which engages in the provision of broadband communications services, including video, broadband Internet and fixed-line telephony services; B2B services; as well as mobile services.