JPMorgan raised the firm’s price target on Sportradar (SRAD) to $35 from $30 and keeps an Overweight rating on the shares. The firm is “incrementally positive” on Sportradar following an analysis of its thesis, saying the stock provides exposure to digital gaming’s “attractive” secular growth with protection from the earnings volatility and policy uncertainty associated with online sports betting operators. The analyst likes Sportradar’s “strong” earnings visibility and free cash flow conversion.
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