EDR - Endeavor slips 3.3% though quiet period ends with mostly positive analysis

With the quiet period ending for sports/entertainment agency Endeavor Group Holdings (EDR), the stock is 3.3% lower despite a generally positive tenor to analysts' initiations. Jefferies started its coverage with a $40 price target, implying 38% upside. Endeavor has a platform that "yields compelling optionality for clients and owned assets, which is virtually irreplicable among the competitive set." RBC took the opportunity to call out Entourage, the HBO series whose agent character Ari Gold was based on Endeavor founding partner Ari Emanuel, saying "The Boys are Back in Town" in starting coverage at Outperform. The company "offers investors unique and direct exposure to key verticals across the entertainment landscape," the firm says, adding there's an "attractive mix of strong and visible growth through the UFC as well as being poised as a re-opening play through its exposure to live events and experiences." It has a $36 target, implying 24% upside.

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Endeavor slips 3.3% though quiet period ends with mostly positive analysis