Liberty Braves Group (BATRK) PT Lowered to $52 at Rosenblatt

Rosenblatt analyst Barton Crockett lowered the price target on Liberty Braves Group (NASDAQ: BATRK) to $52.00 (from $53.00) while maintaining a Buy rating.

The analyst commented: "Atlanta Braves Holdings reported lower 3Q24 OIBDA, as rising baseball costs -- including player salaries -- more than offset revenue growth, driving an OIBDA shortfall relative to our end of season estimate update. But sports team value is driven by long-term success, not operating cash flow. So our price target remains asset-value driven, and minimally changed, as we still assume that eventually this team is taken private by a wealthy ownership group, like other MLB teams. We retain a BUY rating. Our price target is tweaked down $1 to $52."

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