Sportradar price target lowered to $17 from $24 at Wells Fargo

Wells Fargo lowered the firm’s price target on Sportradar (SRAD) to $17 from $24 and keeps an Overweight rating on the shares. The firm attribute Sportradar’s first miss in two-plus years to foreign exchange headwinds, soft U.S., customer friendly outcomes, shifting marketing revenues. Guide was reiterated on upside from World Cup, prediction markets, easing foreign exchange pressure, and IMG.