BUZZ - Versant Media shares rise; Citi initiates coverage with a “Buy” rating

September 24 - ** Shares of VSNT.O under Versant Media Group, the parent company of CNBC, rose 1.2% in pre-market trading to $33.45

** Citi initiated coverage of the stock with a “Buy” rating and a target price of $41

** The brokerage expects a risk-reward ratio of 2:1, which it considers favorable, and states that the decision to drop EPL (English Premier League) broadcasting rights could provide an upside of $8 per share

** Citi stated: “We believe a decision regarding Premier League broadcasting rights could be made between Q2 2027 and Q2 2028.”

** Of the 8 brokerages, 2 have a “Buy” or higher rating, 5 have a “Hold” rating, and 1 has a “Sell” rating; the median target price is $43—LSEG aggregated data

** As of yesterday’s close, the stock has fallen 26.6% so far this year

(To facilitate non-native English speakers, Reuters provides automated translations of its reports into several other languages. As automated translations may contain errors or lack the intended context, Reuters does not guarantee the accuracy of the automated translated text, which is provided solely for reader convenience. Reuters accepts no responsibility for any damage or loss arising from the use of automated translation functionality.)