Liberty Broadband price target lowered to $83 from $108 at Citi

Citi analyst Michael Rollins lowered the firm’s price target on Liberty Broadband to $83 from $108 and keeps a Buy rating on the shares. The analyst updated the company’s model to reflect changes to its Charter model as well as reflecting Charter’s current equity value. The firm still views Liberty Broadband as a cheaper alternative to invest in the Charter franchise.