Sportradar Group AG (SRAD) PT Lowered to $30 at UBS

UBS analyst Robin Farley lowered the price target on Sportradar Group AG (NASDAQ: SRAD) to $30.00 (from $35.00) while maintaining a Buy rating.

The analyst commented, "We are reinstating our Buy rating with a lower multiple to reflect some of the overhang from unregulated market exposure that could weigh on SRAD’s multiple in the near term.
We subsequently move to valuing SRAD using a ~14x EV/EBITDA multiple on our 2027E EBITDA, from 17x previously, below the 16-18x range where SRAD has traded since going public in 2021, and closer to the low double digit average where SRAD has traded since the turn of the year. Our PT subsequently goes to $30 from $35 previously."

You May Also Be Interested In

• Adobe (ADBE) PT Lowered to $225 at UBS Amid Plans to Pivot to Freemium Model
• RLJ Lodging Trust (RLJ) PT Raised to $10 at Truist Securities
• The Lovesac Co. (LOVE) PT Raised to $20 at DA Davidson Following Q1 Results