Guggenheim analyst Curry Baker initiated coverage of StubHub (STUB) with a Neutral rating and $19 price target While StubHub has built “the global leader for the secondary marketplace” in ticketing and benefits from global scale second only to Ticketmaster, an asset-light economic model, “robust” cash conversion, and operating leverage, the firm’s Neutral rating reflects the execution risks for the company’s new initiatives and growing regulatory concern around secondary ticketing, the analyst tells investors.
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