Morgan Stanley raised the firm’s price target on Sportradar (SRAD) to $11.50 from $11 and keeps an Equal Weight rating on the shares. In a Q1 preview note for the North American casino and online betting group, Morgan Stanley tweaked its estimates to reflect weaker Regionals, recent RevPAR data, and updated forecasts for online sports betting, iGaming and Vegas. While some investors are looking for a “new cycle” to re-accelerate trends, the firm does not see an inflection for gaming given already lagging fundamentals and it highlights Las Vegas Sands (LVS) and DraftKings (DKNG) for what it views as their “idiosyncratic upside,” the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SRAD:
- Bet On It: Operators under fire for marketing tactics and college player props
- Nevada reports February statewide gaming win up 8.5% to $1.34B
- Sportradar, Oddin.gg enter multi-year strategic partnership
- Sportradar and Oddin.gg Ink AV Betting Agreement to Elevate and Expand Esports Reach
- Sports betting stocks seen âoverreactingâ to NCAA news, federal scrutiny