Liberty Global Stock Downgraded at Credit Suisse

The firm lowered its price target on the London-based telecommunications firm to $30 from $42.

Author:: Giovanni Bruno
Publish date:: May 24, 2017 9:57 AM EDT

Liberty Global (LBTYA) - Get Report, an international telecommunications and television company, was downgraded today at Credit Suisse to "Neutral" from "Outperform."

The firm lowered its price target on the stock to $30 from $42.

Following years of price hikes, European broadband customers are beginning to resist further increases, Credit Suisse analyst Henrik Herbst wrote to clients today.

The long-term "strategic" outlook for cable in Europe is slowly "deteriorating," he added.

Shares of the London-based Liberty Global were lover over 1% during early morning trading on Wednesday.

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