Benchmark Reiterates Buy Rating on Liberty Braves (BATRA)

Benchmark analyst Matthew Harrigan reiterated a Buy rating and $60.00 price target on Liberty Braves (NASDAQ: BATRA).

The analyst commented, "We remain constructive overall on major market sport team valuations, although we admit likelihood for a hefty price, possible above the recent $3.6B Sportico valuation, for the Paul Allen estate’s sale of the Trailblazers benefits significantly from the NBA’s $76B in new national TV contracts through the next eleven seasons. Interestingly, the estate is maintaining ownership of the (ultimate crown jewel) Seattle Seahawks in the late Allen’s hometown. This is as Forbes earlier this spring arrived at an average $2.6B value for MLB teams while cautioning the current cloud on media rights is dampening assessments – with some teams including the Colorado Rockies actually coming in at lower appraisals versus 2024. The Braves are the #8 most expensive team per Forbes at $3B- compared to the #1 Yankees at $8.2B and the #2 Dodgers at $6.8B – even with the Braves technically having a larger fan area TV market (including the Southeast beyond Atlanta and excepting Florida) and a vastly superior payroll ROI as far as on field performance relative to the Yankees and Dodgers. Over the last five years, Forbes valuations for NFL teams have advanced an average 87% to $5.7B with NBA teams up 101% to $4.4B while MLB clubs are up a more reasonable 36%."

For an analyst ratings summary and ratings history on Liberty Braves click here. For more ratings news on Liberty Braves click here.

Shares of Liberty Braves closed at $44.32 yesterday.

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