Vivid Seats price target lowered to $8 from $10 at RBC Capital

RBC Capital lowered the firm’s price target on Vivid Seats to $8 from $10 and keeps a Sector Perform rating on the shares. The company’s Q4 results were mixed, with above-market growth that should continue in FY24 despite tough comps, though its organic growth in FY24 appears meaningfully slower and the push into international may spur the debate around whether it’s more offensive vs. defensive, the analyst tells investors in a research note.