Maxim analyst Tom Forte initiated coverage of Vivid Seats (SEAT) with a Buy rating and $7 price target. The company generates positive economics on the first transaction, where the lifetime value of a customer already exceeds customer acquisition costs, the analyst tells investors in a research note. Maxim is also positive on Vivid Seats’ loyalty program which “should engender goodwill in a category like airlines and wireless carriers” as well as its strong CEO – Stan Chia – whose “impressive background” includes time spent at Amazon (AMZN).
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