Vivid Seats price target lowered to $6 from $7 at RBC Capital

RBC Capital lowered the firm’s price target on Vivid Seats (SEAT) to $6 from $7 and keeps a Sector Perform rating on the shares after its Q3 results. The company is executing as well as could be expected but is facing two distinct headwinds that could continue pressuring value creation for the foreseeable future – concert supply and irrational competition, the analyst tells investors in a research note. RBC adds however that the concert slate seems poised for a re-acceleration on volume, while the mix and irrational marketing spend “cannot go on forever”.