EDR - Endeavor Group stock gains on earnings beat rating upgrades

Endeavor Group (NYSE:EDR) stock gained as much as 23.4% Friday after the talent agency posted Q1 results that topped Street view. Barclays upgraded EDR to Overweight from Equal-weight, setting its PT at $27, implying potential upside of 47.2% to last close. UBS upgraded EDR to Buy from Neutral, with $33 PT, implying potential upside of 79.9% to last close.  Deutsche Bank raised EDR's price target to $40 from $39, implying potential upside of 118.1% to its last close, maintaining its Buy rating. Analyst Bryan Kraft in a note said EDR will continue benefitting from the expansion of the UFC fandom, robust return of live sports and entertainment events, and strong demand for content on streaming services. "We see EDR strengthening balance sheet through ongoing deleveraging and prudent capital allocation," he added. Meanwhile, Credit Suisse cut EDR's PT to $40 from $45, implying potential upside of 118.1% to last close, citing higher share count and cost

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Endeavor Group stock gains on earnings beat, rating upgrades