Benchmark analyst Matthew Harrigan reiterated a Buy rating and $21.00 price target on Liberty Global (NASDAQ: LBTYA).

The analyst commented, " We maintain a Buy rating and $21 Liberty Global price target heading into 7/24 pre-market 2Q26 earnings. The market focus is apt to be on the imminent Ziggo Group formation with likely closure this month for the acquisition of Vodafone’s 50% interest in the Netherlands JV for €1B followed by a 2H 2027 Benelux spin-off. Another significant deal in progress is the £2B acquisition via nextfibre of Substantial Group with its Netomnia fibre network. (nextfibre is the JV among InfraVia, Liberty Global and Telefonica). The eventual aim is to unlock a £3.5B UK fibre investment and create a viable competitor to BT’s OpenReach. This entails £1B in net new funding including a quite modest £75M from Liberty Global. This is as 2Q26 results for Telenet/Wyre in Belgium and Virgin Media Ireland as well as the UK VMO2 and Dutch VodafoneZiggo joint ventues should predictably remain consistent with 2026 guidance (generally flattish to nominally down top line and Adjusted EBITDA) - albeit with some slight sequential deterioration from March quarter results that paced above expectation."

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Shares of Liberty Global closed at $10.60 yesterday.