Liberty Global price target lowered to $16 from $28 at Pivotal Research

Pivotal Research analyst Jeffrey Wlodarczak lowered the firm’s price target on Liberty Global (LBTYK) to $16 from $28 and keeps a Buy rating on the shares. The company’s consolidated and joint venture assets reported better than expected fixed subscriber losses, modestly better than expected post-paid losses, in-line revenue and moderately worse than expected EBITDA and 2025 guidance, the analyst tells investors in a research note. The firm cut the price target to reflect the Sunrise asset spin and a move to a year-end 2025 target price.