Citi starts CTS Eventim on 'neutral' on limited near-term upside

CTS Eventim AG & Co KGaA

Yesterday 09:47

** Citi initiates coverage of CTS Eventim EVDG.DE with a "neutral" rating and a PT of €67.5 ($75.72), saying the stock offers limited upside despite favourable long-term growth trends
** The broker says the German ticketing group is well placed to benefit from long-term growth in live events, and AI is unlikely to significantly disrupt the sector
** Its Capital Markets Day on Nov 20 could provide greater clarity on strategy and medium-term targets, Citi says, as uncertainty increased following the recent departure of the CFO  
** Shares in CTS Eventim are up around 3.5%, hitting their highest level since March
** Out of 18 analysts that cover CTS Eventim, 15 rate the stock "buy,"​ two rate it "hold" and one maintains a "sell" rating - LSEG data


($1 = 0.8914 euros)

 (Reporting by Aleksandra Kret in Gdansk)
 ((aleksandra.kret@thomsonreuters.com))