Fly News Breaks for August 21, 2019
Aug 21, 2019 | 06:42 EDT
Citi analyst Jason Bazinet started Wanda Sports Group with a Buy rating and $5.50 price target, stating that he sees the company benefiting from programmers' hunger for live content like sports and news as video content moves to the cloud via subscription-video-on-demand services. He also believes live events "have emerged as safe havens amidst the broader threats from digitization," which can help Wanda. The shares could more than double from prevailing levels if the stock "commands an appropriate blended SOTP multiple" of 9.0 times 2020 EV-EBITDA, contends Bazinet.
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