Citi Downgrades Endeavor Group Holdings Inc (EDR) to Neutral
Citi analyst Jason Bazinet downgraded Endeavor Group Holdings Inc (NYSE: EDR) from Buy to Neutral with a price target of $27.50 (from $29.00).
The analyst comments "On April 2, Endeavor entered into an agreement to be acquired by Silver Lake et al at $27.50 per share. We see few risks to the deal completing, nor do we expect a higher offer will be made for the firm. As such, we lower our price target from $29.00 to $27.50 and downgrading our rating from Buy to Neutral."
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Shares of Endeavor Group Holdings Inc closed at $26.41 yesterday.