Versant Media gains; Citi initiates coverage with 'buy'
VSNT•Versant Media shares rose 1.2% to $33.45 in premarket trading after Citi initiated coverage with a buy rating and a $41 price target.
1. Citi starts coverage
Citi said it sees a favorable 2:1 risk-reward for Versant Media and that dropping English Premier League rights could result in $8 of upside per share. The brokerage said the EPL decision may occur between the second quarter of 2027 and the second quarter of 2028.
2. Analyst views
Two of eight brokerages rate the stock buy or higher, five rate it hold and one rates it sell; their median price target is $43. Versant shares were down 26.6% year to date through the previous day's close.
