Zacks Investment Research upgraded shares of Liberty Global PLC (NASDAQ:LBTYA) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $33.00 price target on the stock.
According to Zacks, “Liberty Global continues to grow in the Europe and Central America through several mergers and acquisitions and is looking for more takeover options to expand its footprint. The launch of DOCSIS 3.1 network services, joint venture with Vodafone in Netherlands, acquisition of UTV Ireland TV stations from ITV, takeover of Cable & Wireless bode well for the company's growth. However, Liberty Global’s predominant operation in Europe is a major concern because of recessionary pressure, debt crisis and low per capita income in some European countries. Further, stiff competition in the video, broadband, fixed-line telephony and mobile services business, foreign exchange rate risks and integration risks are major headwinds. Over the past three months, the share price of Liberty Global was down 17.44%, lagging the Zacks categorized Cable TV's industry growth of 7.76%.”
Several other brokerages have also weighed in on LBTYA. TheStreet upgraded shares of Liberty Global PLC from a c rating to a b- rating in a report on Tuesday, March 14th. Jefferies Group LLC set a $42.00 price objective on shares of Liberty Global PLC and gave the stock a buy rating in a report on Thursday, March 16th. Macquarie reiterated a buy rating and set a $42.00 price objective on shares of Liberty Global PLC in a report on Tuesday, April 4th. Citigroup Inc. increased their price objective on shares of Liberty Global PLC from $38.00 to $40.00 and gave the stock a buy rating in a report on Monday, March 6th. Finally, Royal Bank Of Canada reiterated a buy rating and set a $42.00 price objective on shares of Liberty Global PLC in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $40.69.
Liberty Global PLC (LBTYA) opened at 29.98 on Tuesday. Liberty Global PLC has a 52 week low of $26.16 and a 52 week high of $37.69. The stock has a market capitalization of $30.87 billion, a P/E ratio of 18.03 and a beta of 1.68. The firm’s 50-day moving average is $30.69 and its 200-day moving average is $33.45.
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Several hedge funds have recently added to or reduced their stakes in the company. Pointe Capital Management LLC acquired a new position in Liberty Global PLC during the first quarter worth approximately $280,000. Achmea Investment Management B.V. acquired a new position in Liberty Global PLC during the first quarter worth approximately $332,000. Point72 Asset Management L.P. increased its position in Liberty Global PLC by 33.7% in the first quarter. Point72 Asset Management L.P. now owns 579,978 shares of the company’s stock worth $20,804,000 after buying an additional 146,178 shares in the last quarter. Macquarie Group Ltd. increased its position in Liberty Global PLC by 19.4% in the first quarter. Macquarie Group Ltd. now owns 879,643 shares of the company’s stock worth $31,552,000 after buying an additional 142,699 shares in the last quarter. Finally, Credit Suisse AG increased its position in Liberty Global PLC by 41.3% in the first quarter. Credit Suisse AG now owns 493,598 shares of the company’s stock worth $17,705,000 after buying an additional 144,149 shares in the last quarter. 23.59% of the stock is owned by institutional investors and hedge funds.
About Liberty Global PLC
Liberty Global PLC, formerly Liberty Global, Inc, is an international cable company with operations in 14 countries. The Company’s tripleplay services are provided through networks and technology platforms that connect approximately 25 million customers subscribing to over 47 million television, broadband Internet and telephony services.
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