Nomura Says Virgin Media (VMED) Has Turned a Corner

October 24, 2012 1:40 PM EDT Send to a Friend
Get Alerts VMED Hot Sheet
Price: $51.00 --0%

Rating Summary:
    2 Buy, 10 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 27 | Down: 26 | New: 30
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Nomura Securities maintained a Buy rating on Virgin Media (NASDAQ: VMED) and raised its price target to $39.00 (from $37.00).

Commenting on its quarterly results, analyst Henrik Nyblom said, "Some would say that one quarter is not a trend, but we believe VMED has now turned the corner."

"Churn has declined y-o-y for four consecutive quarters and we believe VMED is starting to reap the benefits from initiatives such as doubling broadband speeds and TiVo. VMED's valuation remains compelling, and we expect the discount to its European Cable peers to continue to narrow," he said.

For an analyst ratings summary and ratings history on Virgin Media click here. For more ratings news on Virgin Media click here.

Shares of Virgin Media closed at $34.13 yesterday.

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