Vivid Seats price target lowered to $8 from $12 at RBC Capital

RBC Capital lowered the firm’s price target on Vivid Seats (SEAT) to $8 from $12 and keeps a Sector Perform rating on the shares. The company reported a mixed quarter with a miss relative to low-visibility Street estimates but with some signs of stabilization in the troubled parts of the business, the analyst tells investors in a research note. RBC adds that valuation on the stock has pulled back significantly but the firm prefers to see more confidence in the company being able to control enough of its own destiny in returning to profitable growth before turning more constructive.