Liberty Global Stock Downgraded at Credit Suisse
Liberty Global (LBTYA) - Get Liberty Global plc Class A Ordinary Shares 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.
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Shares of the London-based Liberty Global were lover over 1% during early morning trading on Wednesday.
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