Wunderlich Raises Price Target on Broadband-Provider Liberty Global to $53 (LBTYA)

Wunderlich Securities is raising its price target on shares of Liberty Global, Inc. LBTYA to $53 from $47 Wednesday, "after adjusting for current exchange rates and layering an estimated 2 1/2 points of upside relative to the immediate deal price for high growth German MSO KBW - with the German DAX index now at 7,500." Liberty Global is an international provider of video, broadband Internet and telephony services, with consolidated broadband communications and direct-to-home satellite operations. At the end of last year, Liberty served 17.6 million customers across 14 countries, primarily in Europe, Chile and Australia. Earnings are expected to be released at the close today. Wunderlich maintains a Buy rating on the stock. Matthew Harrigan of Wunderlich Equity Research notes that "Fibernet speeds range from 40 to 100 Mbps, and the MSO will soon benefit from offering the iPhone4 with optimal feature/app use off its WiFi network." Shares of Liberty Global closed down $0.45 on Tuesday, to $45.78.