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BATRA - Liberty Braves +1.4% as Benchmark points to betting momentum Mets sale
Liberty Media Corporation Series A Liberty Braves Common Stock
Liberty Braves Group (BATRA) is up 1.4% and at a four-month high after Benchmark reiterate its Buy rating. The firm says concerns over COVID-19 disruptions, and next year's expiration of the collective bargaining agreement with MLB players, are offset by growing momentum for legal online sports betting. As with others, Benchmark is looking to Steve Cohen's $2.475B purchase of the New York Mets as a support for the Atlanta Braves' valuation. The firm has a $28 price target, implying 22% upside.