New Street: Liberty Global (Buy, $41, +40%) Q3 21 - Extra support from FCF upgrade
Liberty Global has announced a solid set of Q3 results, with an upgrade to FCF from $1.35bn to $1.45bn. The $1.4bn buyback target remains intact, which implies an acceleration into year-end. EBITDA was also supported by a strong synergy delivery in Switzerland and cost management in Ireland.
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