BofA moves to No Rating on Shutterstock after Getty merger deal

BofA analyst Curtis Nagle moved to No Rating on Shutterstock (SSTK) after the company and Getty Images (GETY) entered into a definitive merger agreement to combine in a merger of equals transaction that will result in a combined entity that will be named Getty Image Holdings and continue to trade on the NYSE under the ticker “GETY”. Given the pending merger, the firm believes the stock will no longer trade on fundamentals, the analyst tells investors.