Pivotal Research Reaffirms Their Buy Rating on Liberty Global A (LBTYA)


Pivotal Research analyst Jeffrey Wlodarczak reiterated a Buy rating on Liberty Global A (LBTYA) yesterday and set a price target of $32. The company’s shares closed yesterday at $26.26.

Wlodarczak commented:

“We estimate that assuming the announced VOD and Swiss deal close, Belgium’s current public value, $2B NOL (NPV), $2B in other assets and a conservative value for their 50% stake in the Netherlands JV ($1B) that effectively the UK is trading at 4.0X EBITDA which we view as very attractive. Post the deal close we updated our sum of the parts valuation methodology for the announced Swiss deal price which drove a $4 increase in our YE’2019 target price to $32. At our target we are assuming all announced deals close and the U.K. trades at 5.5X ’19 (arguably temporarily depressed) EBITDA. Considering the last 3 LGI asset sales have been in the low teens EBITDA multiples we view this as quite conservative. If the shares do not rise appreciably from here and the VOD deal closes (expected mid-year) we do not rule out a potential go private transaction.”

According to TipRanks.com, Wlodarczak is a 4-star analyst with an average return of 7.9% and a 59.9% success rate. Wlodarczak covers the Services sector, focusing on stocks such as Charter Communications, Sirius XM Holdings Inc, and Liberty LiLAC Group.

Liberty Global A has an analyst consensus of Moderate Buy, with a price target consensus of $28.80.

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The company has a one-year high of $34.08 and a one-year low of $19.88. Currently, Liberty Global A has an average volume of 1.99M.

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Liberty Global Plc is an international television and broadband company, which engages in the provision of broadband communications services, including video, broadband Internet and fixed-line telephony services; B2B services; as well as mobile services.

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