BofA analyst Curtis Nagle moved to No Rating on Shutterstock (SSTK) after the company and Getty Images (GETY) entered into a definitive merger agreement to combine in a merger of equals transaction that will result in a combined entity that will be named Getty Image Holdings and continue to trade on the NYSE under the ticker “GETY”. Given the pending merger, the firm believes the stock will no longer trade on fundamentals, the analyst tells investors.
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Read More on SSTK:
- Shutterstock names Matt Furlong as Chief Marketplace Officer
- Shutterstock Merges with Getty Images for $3.7 Billion
- Truist sees Shutterstock-Getty merger as a positive for combined entity
- Shutterstock rises 21.2%
- Paychex to acquire Paycor HCM, Getty and Shutterstock to merge: Morning Buzz
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
