Vivid Seats price target lowered to $5.65 from $7 at BofA

BofA analyst Curtis Nagle lowered the firm’s price target on Vivid Seats (SEAT) to $5.65 from $7 and keeps an Underperform rating on the shares following Q4 results. BofA noted that early data suggests that management’s strategy of driving customers to the app is gaining traction. The firm added that it thinks take rates will continue to be pressured. Vivid Seats will remain more exposed to competitive forces that could continue chipping away at share and profits, BofA told investors.