LBRDB - Liberty Broadband: 50% Upside Potential In Case Of Restructure

2024-06-20 09:08:06 ET

Summary

• Liberty Broadband is a holding company with a 26% equity interest in Charter Communications and 100% of GCI, trading at a 33% discount to Net Book Value.
• LBRD provides exposure to Charter's growth, with the potential for outperformance through share buybacks at a discount to book value.
• The discount to book value could potentially contract with corporate action, offering a 50% upside if the ownership structure is realigned.
• No specific plans were presented yet.

Liberty Broadband ( LBRDK , LBRDA ) is a holding company owning a 26% equity interest in Charter Communications ( CHTR ) as well as 100% of GCI, Alaska’s largest communications provider. The stock trades at a 50% discount to the Net Book Value of the assets owned....

For further details see: