In a report released today, Jeffrey Wlodarczak from Pivotal Research reiterated a Buy rating on Liberty Broadband Corp (LBRDA), with a price target of $111. The company’s shares opened today at $81.85.
Wlodarczak wrote:
“We updated our sum-of the-parts valuation methodology post the LBRDK 3Q 10-Q filing/results, which led to no change in our LBRDK YE’19 target price of $111. Recall Liberty Broadband’s sole effective asset is a ~20% economic (~25% voting) stake in BUY rated CHTR. 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. As expected previously, the cable malaise is clearing and CHTR is set up for a strong 2019 propelled by solid results and a significant acceleration in free cash flow/buybacks. Liberty Broadband currently trades at an 12% discount to NAV (vs. -9% at our last note), which we view as too wide.”
According to TipRanks.com, Wlodarczak is a 4-star analyst with an average return of 6.3% and a 54.7% 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.
Liberty Broadband Corp has an analyst consensus of Moderate Buy, with a price target consensus of $101.
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The company has a one-year high of $98.53 and a one-year low of $67.75. Currently, Liberty Broadband Corp has an average volume of 120K.
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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.
