Barclays Lowers Estimates and Price Target on Liberty Global (LBTYA); Strong Operations, Offset By Currency Issues

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Barclays maintains an 'Overweight' on Liberty Global (NASDAQ: LBTYA) price target of $54.00 (from $56.00).

Analyst, James M. Ratcliffe, said that Lberty continue to impress, reporting strong operatiions despite a difficult marco/FX environment. Ratcliffe says his price target reduction is solely because of shift in forex. As well, he lowers Q2 and FY12 net additions to 327,000 and 1.6 million, respectively. FY12 EPS estimate was also lowered from $1.18 to -0.43 and FY13 from $1.36 to -0.17. (Ratcliffe noted that the company had hedged, but unfortunately, not for EUR/USD changes)

For an analyst ratings summary and ratings history on Liberty Global click here. For more ratings news on Liberty Global click here.

Shares of Liberty Global closed at $47.16 yesterday, with a 52 week range of $32.06-$52.00.

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