Liberty Global PLC (LBTYA) Rating Increased to Buy at Zacks Investment Research
Liberty Global PLC (NASDAQ:LBTYA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $35.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 10.86% from the stock’s current price.
According to Zacks, “Liberty Global is expected to benefit from its widespread adoption of broadband and data services in the form of its new launch of DOCSIS 3.1 network services. Further, the merger and acquisitions plans of the company seems impressive. The 50-50 joint venture with Vodafone in the Netherlands, the acquisition of UTV Ireland TV stations from ITV, agreement with Netfix and the takeover of Cable & Wireless Communications should drive growth at Liberty Global. However, Liberty Global’s predominant operation in Europe, which became economically vulnerable after Brexit, is a major concern. Moreover, ongoing debt crisis, low per-capita income, stiff competititon in fixed-line and mobile serve business, foreign exchange rate risks and integration risks are the major dampeners.”
Several other analysts have also recently issued reports on LBTYA. BNP Paribas began coverage on Liberty Global PLC in a research note on Friday, September 2nd. They issued an “outperform” rating and a $41.00 target price on the stock. Jefferies Group reissued a “buy” rating and issued a $46.00 target price (down from $53.00) on shares of Liberty Global PLC in a research note on Thursday, June 23rd. Wunderlich cut their target price on Liberty Global PLC from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, June 22nd. Citigroup Inc. cut their target price on Liberty Global PLC from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, August 18th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and issued a $41.00 target price on shares of Liberty Global PLC in a research note on Friday, September 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $44.31.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/liberty-global-plc-lbtya-rating-increased-to-buy-at-zacks-investment-research.html
Liberty Global PLC (NASDAQ:LBTYA) traded down 0.618% on Monday, reaching $31.375. The company had a trading volume of 661,321 shares. Liberty Global PLC has a one year low of $26.16 and a one year high of $47.01. The company’s 50 day moving average is $32.76 and its 200-day moving average is $34.20. The firm’s market capitalization is $28.86 billion.
Liberty Global PLC (NASDAQ:LBTYA) last posted its earnings results on Friday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.41. Liberty Global PLC had a negative return on equity of 2.62% and a negative net margin of 1.71%. On average, equities research analysts expect that Liberty Global PLC will post ($0.05) earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its position in Liberty Global PLC by 6.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 3,500 shares of the company’s stock valued at $102,000 after buying an additional 200 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in Liberty Global PLC by 124.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,760 shares of the company’s stock valued at $109,000 after buying an additional 2,085 shares during the last quarter. Assetmark Inc. raised its position in Liberty Global PLC by 10.8% in the second quarter. Assetmark Inc. now owns 4,453 shares of the company’s stock valued at $129,000 after buying an additional 433 shares during the last quarter. Simplex Trading LLC raised its position in Liberty Global PLC by 21.0% in the third quarter. Simplex Trading LLC now owns 4,968 shares of the company’s stock valued at $169,000 after buying an additional 863 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Liberty Global PLC by 15.2% in the second quarter. Daiwa Securities Group Inc. now owns 6,803 shares of the company’s stock valued at $198,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 21.16% of the company’s stock.
Liberty Global PLC Company Profile
Liberty Global PLC, formerly Liberty Global, Inc, is an international cable company with operations in 14 countries. The Company’s tripleplay services are provided through networks and technology platforms that connect approximately 25 million customers subscribing to over 47 million television, broadband Internet and telephony services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Liberty Global PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Liberty Global PLC and related companies with MarketBeat.com's FREE daily email newsletter.