Truist Securities Reiterates Buy Rating on Zeta Global Holdings Corp (ZETA)

Truist Securities analyst Terry Tillman reiterated a Buy rating and $30.00 price target on Zeta Global Holdings Corp (NYSE: ZETA).

The analyst comments 'This morning, Zeta Global announced the closing of a $550 million debt refinancing, comprised of a $200 million term loan and $350 million revolving credit facility (undrawn). In conjunction, the company repaid all of its pre-existing credit agreement borrowings ($185 million in total). The refinancing increases Zeta’s total available liquidity by over $300 million, while also reducing Zeta’s credit spreads. For reference, Zeta’s effective interest rate on its now-retired borrowings was 7.6% in 1H24. Zeta also issued a press release discussing the refinancing, which specifically highlights greater tuck-in M&A flexibility as a result of the transaction. While we have not yet updated our model for the refinancing, we expect some benefits to free cash flow going forward as a result of reduced credit spreads."

For an analyst ratings summary and ratings history on Zeta Global Holdings Corp click here. For more ratings news on Zeta Global Holdings Corp click here.

Shares of Zeta Global Holdings Corp closed at $26.41 yesterday.

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