RBC Capital analyst Brad Erickson lowered the firm’s price target on Vivid Seats (SEAT) to $4 from $6 and keeps a Sector Perform rating on the shares. The company had a tough Q4 print, with secondary ticket market volumes having marginally worsened within the very near-term and competitive intensity remaining challenging to the point where Vivid Seats may have to spend incrementally to defend market share, the analyst tells investors in a research note. The company’s profitability continued to outperform however and Vivid Seats is seeing some solid greenshoots internationally, RBC added.
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