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VSNT — Versant Media News Story

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Versant Media gains; Citi initiates coverage with 'buy'

BUZZ-Versant Media gains; Citi initiates coverage with 'buy' 

** CNBC parent Versant Media Group's VSNT.O shares rise 1.2% to $33.45 premarket

** Citi initiates coverage with "buy" rating; PT $41

** Brokerage expects "favorable 2:1 risk-reward" and says decision to drop EPL (English Premier League)rights could result in $8 of upside per share

** "We believe the EPL decision may occur between 2Q27 and 2Q28," Citi says

** Two of 8 brokerages rate stock "buy" or higher, 5 "hold" and 1 "sell"; their median PT is $43 - LSEG-compiled data

** Up to last day's close, shares are down 26.6% YTD


(Reporting by Sudeshna Ghoshal in Bengaluru)

((Sudeshna.Ghoshal@thomsonreuters.com;))

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