Lower Target Liberates Cable Stock From Big Hopes

Better late then never.

Long after most analysts scaled back their expectations for Liberate Communications (LBRT Quote), Dain Rauscher Wessels analyst David Lee Smith cut his price target on the interactive TV software company Tuesday, to $19 from $33.

Smith's target cut comes in spite of what he and other Liberate followers interpret as good news for the company: the Monday announcement that two new cable operators are planning to deploy the company's "middleware" software, which is used to coordinate multiple interactive services on cable systems and other networks. ...