Michael Pachter, an analyst from Wedbush, maintained the Buy rating on Getty Images Holdings (GETY – Research Report). The associated price target is $7.70.
Michael Pachter’s rating is based on several promising factors impacting Getty Images Holdings’ future. He anticipates a surge in demand for Getty’s services in 2024, resulting from an improved economic landscape, high-profile events like the Summer Olympics, the U.S. election cycle, and the resolution of strikes in Hollywood. Pachter points out that while recent top-line growth has been modest, Getty’s strong focus on profitability, particularly maintaining an adjusted EBITDA margin over 30%, is a strategic move that counters investor concerns and sets the stage for a robust recovery and revenue acceleration in the near future.
Furthermore, Pachter maintains his positive outlook with an Outperform rating, underpinned by Getty’s upwardly revised guidance for Q4 2023 and the full year, which exceeded both his and the consensus estimates. He sees this as a sign of underlying business strength, especially in the editorial segment and e-commerce offerings. The analyst also projects Getty’s 2024 guidance to surpass Street expectations, driven by a rebound in demand across key segments and the company’s growing subscriber base. Pachter’s analysis suggests that these elements, combined with Getty’s ability to navigate seasonal trends and capitalize on upcoming global events, make the stock an attractive investment with a bright outlook.
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Getty Images Holdings (GETY) Company Description:
CC Neuberger Principal Holdings II is a blank check company.
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