Liberty Global price target lowered to $27 from $30 at Benchmark

Benchmark lowered the firm’s price target on Liberty Global to $27 from $30 and keeps a Buy rating on the shares after Reuters reported that Liberty Global is considering selling a stake in its Swiss FMC operator Sunrise, which the firm calls “its highest fair valuation multiple business,” ahead of the planned spinoff targeted for Q4 of this year. The firm notes it has made “nominal upward earnings revisions for the various national markets,” including currency effects, but is cautious on European and U.K. equity valuations off political uncertainty, leading it to trim its price target on the shares.