StubHub price target lowered to $22 from $24 at JPMorgan

JPMorgan lowered the firm’s price target on StubHub (STUB) to $22 from $24 and keeps an Overweight rating on the shares. The firm says the company’s first quarterly report “was more eventful than expected.” The shares traded down 18% even though expectations weren’t all that high going into the print and StubHub beating Q3 numbers, the analyst tells investors in a research note. JPMorgan points out that StubHub did not provide any guidance for Q4 and saw ticket on-sales pulled forward in Q3, leading to some softness and likely less visibility this quarter.