Guggenheim analyst Curry Baker initiated coverage of Endeavor Group with a Buy rating and $33 price target. The analyst believes Endeavor has created a "unique, global platform at a scale capable of driving a powerful network effect that reinforces the value of its platform." Management has a successful track record of pursuing scale through organic growth and acquisitions that leverages its "distinctive ecosystem," says the firm. It sees the repricing of UFC and WWE domestic media rights, strong consumer demand tailwinds for live sports and events and demand for content globally as key drivers for the stock.
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