Buy PLBY Group (PLBY) Ahead of Potential NFT Announcement - Craig-Hallum
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Craig-Hallum analyst Alex Fuhrman reiterated a Buy rating and $35.00 price target on PLBY Group, Inc. (NASDAQ: PLBY), saying he sees a good buying opportunity ahead of a likely announcement about using non-fungible tokens to monetize Playboy’s vast trove of content.
The analyst sees opportunities for Playboy to leverage its content and relationships with the artist community to create a sustainable pipeline of new content to be monetized, rather than just simply selling off the archives.
The NFT opportunity is not currently in the analyst's numbers.
Shares of PLBY Group, Inc. closed at $17.99 yesterday.
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