Liberty Broadband price target lowered to $113 from $128 at Pivotal Research

Pivotal Research lowered the firm’s price target on Liberty Broadband (LRBDK) to $113 from $128 and keeps a Buy rating on the shares. The firm updated its sum-of-the-parts analysis post the “decent” Q4 results from Liberty’s “relatively small” Alaskan cable/telecom assets and its recently reduced Charter (CHTR) target price of $450. Liberty Broadband allows investors to effectively buy Charter shares at a more attractive multiple discount, the analyst tells investors in a research note.