Sportradar just upgraded at Jefferies, here’s why

Jefferies analyst David Katz upgraded Sportradar to Buy from Hold with a price target of $16, up from $12. The analyst says the company has made “notable progress” in demonstrating the durability of the business model and its leverage to online sports betting growth in the U.S. and globally. Industry dynamics favor an inflection in U.S. in-game betting, which benefits Sportradar’s core data offering, the analyst tells investors in a research note. The firm believes Sportradar has become “increasingly attractive within an already appealing sector.”