Jefferies Downgrades Virgin Media (VMED) to Hold

Jefferies downgraded Virgin Media (NASDAQ: VMED) from Buy to Hold with a price target of $30.00 (down from $33.50).

The firm commented, "Results last week reinforced the recent theme of VMED operating trends coming under pressure. The bull case envisages significant shareholder returns as operating leverage drives strong FCF growth. But buyback capacity could be materially reduced if OCF growth fails to rebound as much as consensus expects. We prefer BT (BT/A LN, Buy, 201p) for exposure to UK broadband/TV."

For more ratings news on Virgin Media click here and for the rating history of Virgin Media click here.

Shares of Virgin Media closed at $25.28 yesterday.

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