Wedbush starts Getty Images at Outperform, sees favorable risk/reward into 2023

As previously reported, Wedbush analyst Michael Pachter initiated coverage of Getty Images with an Outperform rating and $6 price target. While acknowledging that Getty Images "faces a number of hurdles" heading into FY23, Pachter contends that a premium valuation multiple is warranted "given a history of strong execution and a compelling and consistent profit profile." He sees opportunities to gain market share within agency, corporate, and media budgets given the company’s comprehensive content library, customization in its subscriptions, and "the utility provided by its platforms," Pachter added.