UBS starts CTS Eventim with 'buy' on positive volume indications, higher prices

CTS Eventim AG & Co KGaA

14/01/2025 10:32

** UBS starts coverage of German ticketing group CTS Eventim
 EVDG.DE  with a "buy" rating, pointing to strong volume
indications for 2025 and higher tickets prices
    ** The broker's estimates suggest very healthy demand for
upcoming tours this year, particularly in Germany, it says
    ** "Total spend is up triple digit for Eventim in Q4 2024 in
Germany, driven primarily by volumes," it says
    ** Ticket prices are also up in a mid to high single-digit
range y/y, it adds
    ** A scenario of easing macroeconomic and geopolitical
tensions could also support ticket volumes and pricing, it adds
    ** CTS Eventim's shares rise 5% to the top of Germany's
mid-cap index  .MDAXI 
    ** Out of 14 analysts that cover CTS Eventim, ten rate the
stock "strong buy"/"buy", ​three "hold" and one "sell" - LSEG
data

 (Reporting by Amir Orusov)
 ((Amir.orusov@thomsonreuters.com))