Analyst Henrik Paganetty of Jefferies maintained a Buy rating on CTS Eventim AG & Co. KGaA (0EEE – Research Report), retaining the price target of €127.00.
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Henrik Paganetty has given his Buy rating due to a combination of factors including the strong financial performance of CTS Eventim AG & Co. KGaA in the first quarter of 2024. The company reported significant growth in both sales and EBITDA, surpassing market expectations. Specifically, sales increased by 22% year-over-year, reaching €499 million, which was 14% higher than the FactSet consensus. Additionally, the adjusted EBITDA rose to €100 million, marking an 8.9% increase year-over-year and a 6% beat against the consensus.
Another factor contributing to the Buy rating is the company’s positive outlook for 2025. CTS Eventim has confirmed its guidance for a moderate increase in sales, adjusted EBITDA, and EBIT at the group level. The Ticketing segment, in particular, showed robust growth with a 16.9% year-over-year increase in revenue, driven by major ticket sales for popular international artists. This strong performance and optimistic future guidance underpin Henrik Paganetty’s positive assessment of the stock.
In another report released on May 19, UBS also maintained a Buy rating on the stock with a €116.00 price target.