Goldman Sachs analyst Andrew Lee downgraded Liberty Global to Neutral from Buy with a EUR 23.50 price target. The analyst cites weaker U.K. pricing power, revenue growth that lags the broader sector and a "muted" free cash flow outlook for the downgrade. While Liberty’s shareholder returns remain strong in a sector context, the shares have fewer catalysts for a re-rating and there are greater opportunities elsewhere, Lee tells investors in a research note.
Published first on TheFly
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