RBC initiates coverage of Vivid Seats

Vivid Seats

29/08/2022 12:58

** RBC initiates coverage of online ticket marketplace Vivid
Seats  SEAT.O  with "sector perform" rating and $10.50 PT, a 23%
upside to its last closing price
    ** Brokerage likes SEAT's position in the North American
online secondary ticketing sector, its sports/concert exposure,
which can help it gain market share 
    ** Adds that revenue estimates look conservative
    ** RBC is concerned over aggressive competitive behavior by
some rivals 
    ** 8 brokerages rate the stock "buy" or higher and 3 "hold";
their median PT is $11.50
    ** SEAT down 21.5% YTD

 (Reporting by Aniruddha Ghosh in Bengaluru)
 ((Aniruddha.Ghosh@thomsonreuters.com; 91 83 83 81 2416;))