StubHub (STUB) shares rose nearly 6% in early trading after multiple brokerages, including J.P. Morgan, BofA Global Research, Evercore ISI, and BMO, issued positive ratings following the end of the IPO quiet period.
Key points:
- Analysts highlighted StubHub’s leadership in secondary ticketing and potential expansion into primary ticketing and advertising
- Street-high price target set at $30 by BMO, with other targets ranging from $24–$29
- Shares currently trading at $20, below the IPO price of $23.50, offering potential upside
- StubHub raised $800 million in its U.S. IPO to reduce $2.4B debt
- Platform operates in 200+ countries, facilitating ticket sales for sports, music, and live events
“We believe STUB shares, trading at a discount to peers, offer compelling risk/reward as we expect strong execution in core resale and ads,” said J.P. Morgan analysts.