Endeavor one of the best positioned media companies, says Deutsche Bank

Deutsche Bank analyst Bryan Kraft believes Endeavor Group is one of the best positioned media companies due to its exposure to "secularly growing parts of the industry" – live sports, content creation, live events and experiences, and sports betting. This should translate into low double digit annual EBITDA growth from 2023 through 2026, the analyst tells investors in a research note. The firm says the stock’s valuation is attractive relative to the company’s growth and through a sum-of-the-parts lens. Endeavor’s balance sheet has also been deleveraged meaningfully, significantly reducing its financial risk, contends Deutsche. It keeps a Buy rating on the shares with a $35 price target.