Barclays Reiterates an 'Overweight' on Liberty Global (LBTYA); Attractive Fundamentals and a Disciplined Approach to M&A

Barclays reiterates an 'Overweight' on Liberty Global (NASDAQ: LBTYA), PT $48.

Barclays analyst says, "We continue to find LBTYA shares attractive, and the stock remains our top cable pick. LBTYA shares combine strong operational performance (with the prospect of accelerating EBITDA growth next year) with a shareholder friendly capital structure and aggressive capital returns (on track to $1BN plan for 2011). We continue to expect the announced KBW deal to close, but view an offer for Ziggo as unlikely at this point." (Barclays raises FY11 EPS estimate from $0.63 to $1.44 but lowers FY12 from $1.45 to $1.22)

For more ratings news on Liberty Global click here and for the rating history of Liberty Global click here.

Shares of Liberty Global closed at $44.82 yesterday.

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