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Investing.com - Berenberg reduced its price target on CTS Eventim (ETR:EVD) to EUR115.00 from EUR120.00 on Wednesday, while maintaining a Buy rating on the stock.
The price target adjustment follows CTS Eventim’s weak second-quarter 2025 results, which Berenberg attributes primarily to cost pressures in the company’s Live Entertainment segment and integration costs related to SeeTickets and France Billet acquisitions.
Berenberg views these effects as largely temporary, despite cutting mid-term EPS estimates by a high-single-digit percentage to account for potentially lower profitability in the Live Entertainment division.
The research firm characterizes CTS Eventim as a "high-quality compounder with strong barriers to entry" and suggests the recent approximately 20% share price drop is not justified.
The new price target of EUR115.00 represents approximately 40% upside potential from current levels, according to Berenberg’s analysis.
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