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Pivotal Research analyst Jeffrey Wlodarczak maintained a Buy rating on Liberty Broadband Corp (NASDAQ: LBRDA) today and set a price target of $100. The company’s shares closed yesterday at $71.71, close to its 52-week low of $68.20.
Wlodarczak wrote:
“We modified our sum-of the-parts valuation methodology post the LBRDK 10-Q filing and most importantly for our 4/30 CHTR (BUY) YE’18 target price decrease to from $500 to $375, which led to $34 change in our YE’18 LBRDK target price to $100. Recall Liberty Broadband’s sole effective asset is a ~17% economic stake (25% voting) in BUY rated CHTR. Recall our CHTR target price reduction was a conservative move to attempt to reflect what we view as overdone investor concern regarding mainly heightened competition and changes to the broader low margin payTV subscriber outlook. 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 7.5% and a 59.3% success rate. Wlodarczak covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Charter Communications, and Liberty LiLAC Group.
Currently, the analyst consensus on Liberty Broadband Corp is Moderate Buy and the average price target is $107, representing a 49.2% upside.
In a report issued on May 7, Buckingham also maintained a Buy rating on the stock with a $114 price target.
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Liberty Broadband Corp’s market cap is currently $13B and has a P/E ratio of 6.46. The company has a Price to Book ratio of 1.24.
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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.
