Liberty Broadband price target raised to $130 from $113 at Citi

Citi raised the firm’s price target on Liberty Broadband (LBRDK) to $130 from $113 and keeps a Buy rating on the shares. The analyst updated the company’s model after increasing its price target for Charter (CHTR). The estimated level of net asset value discount for Liberty Broadband seems too wide, the analyst tells investors in a research note. The firm says a likely endgame for Liberty Broadband, based on management commentary on the Q2 earnings call, could eventually be to consider a merger with Charter at a better NAV discount relative to the level at which it’s currently trading.