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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GETY:
- Getty Images Faces Uncertainty as Shutterstock Merger Faces Potential Regulatory Hurdles
- Getty Images Q4 Earnings: Growth Amid Challenges
- Nvidia unveils NeMo Video Curator for petabyte-scale video processing
- Getty Images price target lowered to $4.50 from $6 at Benchmark
- Getty Images Reports Strong 2024 Financial Results