Sportradar upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Samuel Nielsen upgraded Sportradar (SRAD) to Overweight from Neutral with a price target of $15, up from $12, after meeting with management. The firm came away “incrementally encouraged” with Sportradar’s s ability to leverage its sports data rights to innovate on product and generate pricing power that is garnering higher share of wallet. This creates a favorable set up for margin expansion, the analyst tells investors in a research note. JPMorgan sees multiple upcoming catalysts that should provide upside to shares, including easier comparisons in the Q4.