New Street: Liberty Global (Buy, $44, +63%) Revisiting pricing and Lightning assumptions ahead of results
In advance of the Liberty Global results on 17 February, we have updated our model to reflect the new UK price rise and also the prospect of higher capex reflecting their FTTH investments on Project Lightning. Our price target remains the same at $44 and we continue to be very bullish on Liberty Global. We run through the changes in more detail in this note.
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