Liberty Broadband price target lowered to $88 from $102 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Liberty Broadband (LBRDK) to $88 from $102 and keeps an Equal Weight rating on the shares. For the North American Telecom and Cable Services group, the analyst finds the U.S. wireless industry structure as “supportive of growth,” while arguing that broadband competition is likely to intensify.