Virgin Media To Hold Investor Day Next Week

Citi published its research report yesterday on Virgin Media VMED in preperation for VMED's analyst day. In a note to clients, Citi writes, "Low-to-mid single digit revenue growth does not look challenging given: 1) ARPU growth is following price rises, 2) better customer growth is helped by increased marketing expenditure financed by opex cuts, 3) network expansion and 4) the return to growth of the Mobile and Business divisions. With a cost base which is well under control, EBITDA and cash flow growth are both very well supported." Citi maintains a Buy rating and $35.00 price target on VMED. VMED closed Wednesday at $25.62.