Sportradar slips after J.P. Morgan rates 'neutral'

Sportradar AG

18/06/2024 15:26

** Shares of Swiss sports software company Sportradar Group
 SRAD.O  down 4.2% at $10.48, lowest since June 6
    ** J.P. Morgan assumes coverage on SRAD with "neutral"
rating, vs prior "overweight"
    ** Sets price target at $12 vs prior $13 
    ** Brokerage says co's current valuation is incorporating a
degree of execution risk on concerns of data rights cost
inflation, new CFO transition, and effectiveness of recent
strategic realignment
    ** "We believe equity investors will need to see
multi-period execution before ascribing a higher valuation
multiple"- JPM
    ** Of 12 analysts covering the stock, seven rate "buy" or
higher, four "hold" and one "sell"; their median PT is $14.5
-LSEG
    ** Stock down ~5.4% YTD

 (Reporting by Roshan Abraham)
 ((Roshan.Abraham@thomsonreuters.com))