Liberty Broadband downgraded to Neutral from Buy at Rosenblatt

Rosenblatt downgraded Liberty Broadband (LBRDA) (LBRDK) to Neutral from Buy with a price target of $92, up from $91. The deal announced yesterday for Charter (CHTR) to acquire Liberty Broadband “seems highly likely to close by or before” the announced date of June 30, 2027, says the analyst, who now values Liberty Broadband at the firm’s Charter price target of $399, times the announced exchange ratio, plus its estimate of the equity value of GCI to be spun out, or $5.35 per Liberty Broadband share.