Wunderlich Securities has reiterated a Buy rating on Liberty Global’s stock and set a price target of US$55 (€40) for the cable giant following presentations given by president and CEO Mike Fries and CTO Balan Nair at the Cable Show in Los Angeles.
Wunderlich analyst Matthew Harrigan said that Liberty Global’s technology roadmap beyond the Horizon set-top, including development of broadband and in-home WiFi capabilities would enable it take advantage of growing tablet video consumption, while its forthcoming rollout of mobile as an MVNO is also seen as positive.
Harrigan also said that the current stock price also reflected a pessimistic view of triple-play price deterioration in Europe over the next four years.
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