Liberty Global (LBTYA) PT Raised to $23 at UBS

UBS analyst Polo Tang raised the price target on Liberty Global (NASDAQ: LBTYA) to $23.00 (from $22.50) while maintaining a Buy rating.

The analyst comments "Ahead of the Sunrise CMD on 9 September and intended Sunrise spin-off in Q4 2024, we recap our Sunrise assumptions, undertake a deep dive on the fundamentals for the Swiss market, look at Swiss valuations and what this implies for the remaining Liberty Global stub. We think divestments/M&A could be a catalyst for a re-rating. Post Q2 results, we nudge our PT to $23.0 (from $22.5)."

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