Morgan Stanley analyst Cameron Mansson-Perrone initiated coverage of Vivid Seats with an Equal Weight rating and $9.50 price target. Strong consumer demand for live events, proprietary technology, and a large total addressable market position Vivid for high-single digit sales growth, the analyst tells investors in a research note. However, secondary ticketing is competitive, requiring substantial marketing spend, says the firm, which leaves it more cautious than consensus estimates on near-term margins.
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