Citi downgraded Getty Images (GETY) to Neutral from Buy with a $2.45 price target after resuming coverage of the name. The stock’s risk/reward is currently balanced given limited near-term revenue visibility due to continued agency declines, generative artificial intelligence, and macro pressures, the analyst tells investors in a research note. The firm is “encouraged” with Getty’s proposed merger with Shutterstock given the potential for a greater mix-shift to subscriptions and the benefits from $150M-$200M in annualized cost synergies. Citi is watching for Getty’s continued subscription mix shift as well as potential margin upside from newer data licensing deals.
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