Analyst Henrik Paganetty of Jefferies maintained a Buy rating on CTS Eventim AG & Co. KGaA (0EEE – Research Report), with a price target of €127.00.
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Henrik Paganetty’s rating is based on several factors that highlight the positive outlook for CTS Eventim AG & Co. KGaA. The company is expected to benefit from a strong lineup of artists and sustained demand for tickets, which have led to an upward revision in the mid-term growth rate from approximately 5% to 6%. This optimism is further supported by the robust performance of Live Nation in the first quarter.
Additionally, the consolidation of SeeTickets and France Billet is anticipated to provide favorable conditions, contributing to a solid first quarter for CTS Eventim. As a result of these factors, Paganetty has increased the price target from €100 to €127, reinforcing the Buy rating for the stock.
In another report released yesterday, Barclays also upgraded the stock to a Buy with a €130.00 price target.