UBS has downgraded Liberty Global's stock rating from Buy to Neutral, reducing the price target from $23 to $13 due to recent business changes, including the spin-off of Sunrise. The company, now focused on its stakes in Virgin Media O2, Telenet, and VodafoneZiggo, faces competitive pressures in the UK market but sees growth potential through broadband expansion and the creation of a UK NetCo. Despite a strong stock performance over the past year, Liberty Global remains unprofitable, with a negative P/E ratio, although it trades at a low price-to-book ratio, suggesting potential value for investors.
