Pivotal Research analyst Jeffrey Wlodarczak reiterated a Buy rating on Liberty Broadband Corp (NASDAQ: LBRDA) today and set a price target of $111. The company’s shares closed yesterday at $79.74.
Wlodarczak observed:
“We modified our sum-of the-parts valuation methodology post the LBRDK 2Q 10-Q filing and most importantly for our 7/31 CHTR (BUY) move to a YE’19 target price increase from $375 to $415, which directly led to an $11 change in our LBRDK target price to $111. Recall Liberty Broadband’s sole effective asset is a ~20% economic stake in BUY rated CHTR. Recall our CHTR target price increase was post solid 2Q results and a decision to move to a YE’19 target from YE’18. We point investors to our most recent CHTR note for a detailed discussion of the underpinnings of this target price + risks. Recall we utilize an 8% discount to NAV in our LBRDK target price.”
According to TipRanks.com, Wlodarczak is a 4-star analyst with an average return of 8.4% and a 58.2% success rate. Wlodarczak covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Charter Communications, and Sirius XM Holdings Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Liberty Broadband Corp with a $111 average price target.
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The company has a one-year high of $104.35 and a one-year low of $67.75. Currently, Liberty Broadband Corp has an average volume of 182K.
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Liberty Broadband Corp. operates as a holding company, which engages in the cable, broadband, and mobile location technology businesses. It operates through its subsidiaries, Charter Communications, Inc and TruePosition, Inc. The company was founded on November 4, 2014 is headquartered on Englewood, CO.
