UPDATE: Morgan Stanley Downgrades Sportradar Group AG (SRAD) to Equalweight

January 18, 2022 3:00 AM EST
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Price: $9.39 +4.45%

Rating Summary:
    9 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 24 | New: 13
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(Updated - January 18, 2022 4:57 AM EST)

Morgan Stanley analyst Thomas Allen downgraded Sportradar Group AG (NASDAQ: SRAD) from Overweight to Equalweight with a price target of $19.00 (from $26.00).

The analyst comments "SRAD is attractively exposed to the high growth global sports betting opportunity â–ªScaled market leader in concentrated sports data distribution industry with broadest base of sport/event coverage. Diversified, recurring subscription-based revenue streams that provide predictability to FCF, with upside through rev-share in the US. However, sports rights cost inflation and increased competition from smaller competitors are key risks. Concerns around profitability / margins for sports betting stocks unlikely to be relieved near-term. Lower margins (20% in '23e) than Saas Comps and Info Services stocks affects comparability."

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 $15.47 yesterday.

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