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Liberty Global downgraded to Neutral from Buy at BofA
The Fly

Liberty Global downgraded to Neutral from Buy at BofA

BofA analyst David Wright downgraded Liberty Global (LBTYA) to Neutral from Buy with a price target of EUR 23.60, down from EUR 33.30 as part of a broader research note on European Telecoms. Capex has passed its peak around 19% of sales and should trend lower despite some emerging inflation, but cable operators need to overbuild fiber over time, leaving Liberty and Vodafone (VOD) most exposed, the analyst tells investors in a research note.

Published first on TheFly

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