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 morning. The firm currently has $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%.”
Other analysts have also issued research reports about the company. Royal Bank Of Canada reissued a buy rating and set a $42.00 price objective on shares of Liberty Global PLC in a report on Monday, May 15th. Jefferies Group LLC set a $43.00 price objective on Liberty Global PLC and gave the stock a buy rating in a report on Saturday, June 17th. Credit Suisse Group lowered Liberty Global PLC from an outperform rating to a neutral rating in a report on Wednesday, May 24th. TheStreet raised Liberty Global PLC from a c rating to a b- rating in a report on Tuesday, March 14th. Finally, Pivotal Research decreased their price objective on Liberty Global PLC from $47.00 to $42.00 and set a buy rating on the stock in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $40.69.
Liberty Global PLC (NASDAQ:LBTYA) traded down 0.21% during trading on Tuesday, hitting $28.97. The stock had a trading volume of 249,738 shares. The company’s 50-day moving average is $30.69 and its 200 day moving average is $33.45. The firm has a market cap of $29.83 billion, a PE ratio of 17.42 and a beta of 1.68. Liberty Global PLC has a 52 week low of $26.16 and a 52 week high of $37.69.
A number of institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in shares of Liberty Global PLC during the fourth quarter valued at about $5,623,000. Aviva PLC increased its position in shares of Liberty Global PLC by 4.9% in the fourth quarter. Aviva PLC now owns 161,003 shares of the company’s stock valued at $4,927,000 after buying an additional 7,480 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Liberty Global PLC by 10.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 118,078 shares of the company’s stock valued at $3,635,000 after buying an additional 11,202 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Liberty Global PLC during the fourth quarter valued at about $462,000. Finally, Credit Agricole S A increased its position in shares of Liberty Global PLC by 3.2% in the fourth quarter. Credit Agricole S A now owns 72,197 shares of the company’s stock valued at $2,208,000 after buying an additional 2,260 shares during the last quarter. Hedge funds and other institutional investors own 23.59% of the company’s stock.
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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