BMO Capital analyst Brian Pitz lowered the firm’s price target on StubHub (STUB) to $15 from $22 and keeps an Outperform rating on the shares. The company reported disappointing overall results to close the year, with Gross Merchandise Sales and revenue coming in 6% and 7% below consensus,the analyst tells investors in a research note. BMO maintains its view however that StubHub’s scale, differentiated offering, and market leadership in secondary ticketing provide a key competitive advantage, enabling the company to continue gaining market share and become the global leader in live event ticketing, the firm added.
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