Positive Outlook for Getty Images Holdings with Anticipated Revenue Boost from High-Profile Events and Strategic Acquisitions

Analyst Michael Pachter from Wedbush maintained a Buy rating on Getty Images Holdings (GETY – Research Report) and keeping the price target at $7.70.

Michael Pachter’s rating is based on Getty Images Holdings Inc’s solid performance and positive projections for future events. Pachter acknowledges that while the company faced some initial challenges due to strikes in Hollywood, there is an anticipation of normalization in the latter half of the year. The forecasted recovery is further bolstered by upcoming high-profile events like UEFA Euro 2024, the Olympics, and the U.S. presidential election, which are expected to significantly increase editorial revenue. Additionally, the company’s ability to maintain its guidance for the fiscal year reinforces confidence in its financial stability and prospects.
Furthermore, Pachter highlights the strategic moves undertaken by Getty, such as the acquisition of Motorsport Images and the renewal and establishment of various content partnerships. These steps are seen as efforts to strengthen Getty’s market position and diversify their portfolio, which could lead to a more robust performance. The analyst maintains revenue and adjusted EBITDA estimates for upcoming fiscal years and projects a substantial enterprise value to EBITDA multiple, indicating a belief in the company’s ability to outperform expectations, especially in the event of a quicker-than-anticipated economic recovery. These collective factors contribute to the analyst’s buy rating and optimistic price target for Getty Images Holdings.

According to TipRanks, Pachter is an analyst with an average return of -3.0% and a 45.82% success rate. Pachter covers the Communication Services sector, focusing on stocks such as fuboTV, Getty Images Holdings, and Skillz.

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Getty Images Holdings (GETY) Company Description:

CC Neuberger Principal Holdings II is a blank check company.