Jefferies raised the firm’s price target on Sportradar (SRAD) to $27 from $23 and keeps a Buy rating on the shares. The firm cites the company’s strong quarter, with revenue and EBITDA up 22% and 53% Y/Y respectively, coupled with the solid guide and further upside from the IMG deal ahead of analyst meeting, the analyst tells investors in a research note. Jefferies adds that it continues to believe that in-game betting is the next leg higher for US online sports betting, which should drive estimates and shares higher still.
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Read More on SRAD:
- Autodesk in proxy fight, General Mills reports mixed Q3: Morning Buzz
- Sportradar Reports Strong 2024 Financial Results and Strategic Acquisition
- Sportradar guidance phrasing points to conservativism, says Jefferies
- Sportradar to Acquire IMG ARENA, Enhancing Global Sports Betting Portfolio
- Sportradar sees FY25 revenue at least EUR 1.273B
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