Jefferies Reiterates Hold Rating on Sportradar (SRAD), 'we expect a positive reaction to the announcement.'

Jefferies analyst David Katz reiterated a Hold rating and $14.00 price target on Sportradar Group AG (NASDAQ: SRAD).

The analyst comments "The deal appears to generate excess cash from non-core assets, which is most likely used for returns and is therefore positive for the shares. Although the sector has been challenged by the complexities associated with prediction markets and moderating handle volumes, coupled with the company specific pressures applied by concerns over SRAD's gray market engagement (which we consider overblown), we expect a positive reaction to the announcement."

For an analyst ratings summary and ratings history on Sportradar Group AG click here. For more ratings news on Sportradar Group AG click here.

Shares of Sportradar Group AG closed at $12.18 yesterday.

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