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Investing.com - JPMorgan has reduced its price target on CTS (NYSE:CTS) Eventim (ETR:EVD) to EUR114.00 from EUR118.00 while maintaining an Overweight rating on the stock.
The adjustment follows CTS Eventim’s Q2 2025 results, which triggered a 17% drop in the company’s share price to a one-year low. High integration costs negatively impacted earnings through the first half of the year, while the Live Entertainment segment faced regional growth challenges in Europe.
Despite these headwinds, JPMorgan noted positive momentum in CTS Eventim’s Ticketing business, which achieved approximately 4-5% organic growth despite challenging macroeconomic conditions. Management expressed confidence in the pipeline through year-end, which should position the company for accelerated growth in the second half.
JPMorgan reduced its FY25 adjusted EBITDA forecast by 5% to EUR571 million, implying 5% year-over-year growth at the group level. This revised estimate sits at the lower end of the company’s reiterated guidance for moderate growth in adjusted EBITDA of approximately 5-15%.
The investment bank highlighted several positive factors despite current challenges, including abating cost headwinds, a solid pipeline in Ticketing with improved content visibility, and partial synergy realization in FY25 with momentum carrying into next year.
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