CTS Eventim price target raised to EUR 92 from EUR 77 at Jefferies

Jefferies analyst Henrik Paganetty raised the firm’s price target on CTS Eventim (CEVMF) to EUR 92 from EUR 77 and keeps a Buy rating on the shares. According to the firm’s website visit tracker, the continued strong artist pipeline is matched by high ticket demand. As Adele set new pricing standards in Q1, Jefferies projects that ticket prices will continue to increase. Thus, the firm increases its EBITDA estimates by 15%-24% for the next few years. The firm is slightly above EBITDA consensus, and notes that it sees the lawsuit that was filed against Live Nation (LYV) as a potential chance to gain market share in the U.S.