New Street downgraded Liberty Global to Neutral from Buy with a price target of $24, down from $27. For Liberty Global shareholders, there has been always been “a see-saw between unlocking potential asset value and lacklustre operational trends as they defend their existing cable businesses,” says the analyst, who pulls back on the firm’s recommendation until there is more visibility that the company’s higher-cost strategy is helping to drive higher top-line momentum. The firm would be likely to revisit this idea closer to the Sunrise spin, the analyst added.
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