Liberty Global price target lowered to $25 from $30 at Pivotal Research

Pivotal Research analyst Jeffrey Wlodarczak lowered the firm’s price target on Liberty Global to $25 from $30 and keeps a Buy rating on the shares. The firm tweaked its consolidated and V-02 JV estimates moderately lower mainly related to the timing of rate hikes and modestly unfavorable currency exchange rates. Pivotal added that it continues to expect post-Q1 consolidated EBITDA decline should improve through the balance of the year before turning positive in Q4.