Matthew Harrigan, an analyst from Benchmark Co., maintained the Buy rating on Atlanta Braves Holdings Inc Class A (BATRA – Research Report). The associated price target is $60.00.
Matthew Harrigan has given his Buy rating due to a combination of factors that highlight the strong positioning and potential of Atlanta Braves Holdings Inc Class A. The company benefits from the scarcity and high desirability of marquee sports teams, which supports its asset value beyond immediate financial results. The return of key injured players and the club’s renowned player development program position the team for continued success on the field, despite challenges from high-spending rivals in the National League.
Additionally, the recent partnership with FanDuel Sports Network to offer direct-to-consumer streaming enhances fan accessibility and engagement, potentially boosting viewership and revenue. The valuation approach used by Benchmark, which includes a revenue multiple for the MLB team and a capitalization rate for Battery Atlanta, supports a $60 price target for 2025. Despite a decline in 4Q24 revenues due to fewer home games, the Battery’s success as a year-round destination and the strategic media partnerships contribute positively to the overall outlook.
According to TipRanks, Harrigan is an analyst with an average return of -0.6% and a 52.68% success rate. Harrigan covers the Communication Services sector, focusing on stocks such as Ooma, Comcast, and Grupo Televisa, S.A.B..
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