Liberty Global PLC (LBTYA) Upgraded 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 on Monday. The firm 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 company’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.”
Other equities research analysts also recently issued reports about the stock. Evercore ISI started coverage on shares of Liberty Global PLC in a research note on Thursday, June 30th. They issued a “buy” rating and a $40.00 price target for the company. Pivotal Research decreased their target price on shares of Liberty Global PLC from $50.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, June 24th. Jefferies Group reissued a “buy” rating and set a $46.00 target price (down from $53.00) on shares of Liberty Global PLC in a research report on Thursday, June 23rd. Wunderlich decreased their target price on shares of Liberty Global PLC from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, June 22nd. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and set a $41.00 target price on shares of Liberty Global PLC in a research report on Friday, September 16th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Liberty Global PLC presently has an average rating of “Buy” and an average target price of $44.31.
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Shares of Liberty Global PLC (NASDAQ:LBTYA) traded down 0.60% during midday trading on Monday, reaching $31.38. 671,127 shares of the company’s stock traded hands. Liberty Global PLC has a 12 month low of $26.16 and a 12 month high of $47.01. The stock has a 50-day moving average price of $32.76 and a 200 day moving average price of $34.20. The firm’s market cap is $28.87 billion.
Liberty Global PLC (NASDAQ:LBTYA) last posted its quarterly earnings results on Friday, August 5th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.41. Liberty Global PLC had a negative net margin of 1.71% and a negative return on equity of 2.62%. Equities research analysts predict that Liberty Global PLC will post ($0.05) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted 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 worth $102,000 after buying an additional 200 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted 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 worth $109,000 after buying an additional 2,085 shares during the last quarter. Assetmark Inc. boosted 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 worth $129,000 after buying an additional 433 shares during the last quarter. Simplex Trading LLC boosted 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 worth $169,000 after buying an additional 863 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted 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 worth $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.
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