Liberty Broadband Corporation (LBRDK) PT Lowered to $107 at Pivotal Research

Pivotal Research analyst Jeffrey Wlodarczak lowered the price target on Liberty Broadband Corporation (NASDAQ: LBRDK) to $107.00 (from $111.00) while maintaining a Buy rating.

Analyst says: "We updated our sum-of the-parts valuation methodology post the LBRDK 4Q 10-K filing/results and our already announced 4Q reduction in our CHTR (BUY) target price, which led to a $4 reduction in our LBRDK YE’19 target price to $107. Recall Liberty Broadband’s sole effective asset is a ~20% economic (~25% voting) [including GLIBA ownership] in BUY rated CHTR. We point investors to our most recent CHTR note for a detailed discussion of the underpinnings of this target price + risks. Recall we utilize an 8% discount to NAV in our LBRDK target price."

Shares of LBRDK trade down -0.86%, while SPY trades up +0.05% in late afternoon trading.

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