SRH AlsterResearch AG: Research update CTS Eventim AG

Downgrade to SELL with unchanged price target EUR 55.00

Hamburg (pta024/06.10.2021/16:31 UTC+2)

AlsterResearch has published an update on CTS Eventim AG: Analysing the attendance of the Bundesliga, AlsterResearch deduces that expectations of a steep and broad-based recovery for live events may be overblown and a return to pre-crisis levels might take longer than expected. CTS is doing its homework and focuses on strict cost management, efficiency gains and liquidity protection to emerge stronger from the crisis. Considering the ambitious valuation and potential for short-term disappointment from end-markets, AlsterResearch downgrades to SELL with unchanged PT of EUR 55.00. For full details, please visit the ResearchHub.

About AlsterResearch: AlsterResearch is an independent equity research house, providing MiFID II-compliant research on more than 50 German stocks. The research is available on the digital research platform ResearchHub or via an EMail subscription free of charge or obligations. AlsterResearch also regularly hosts roadshows, roundtables and conferences with key people in interesting companies.

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Emitter:	SRH AlsterResearch AG Himmelstraße 9 22299 Hamburg Germany
Contact Person:	Thomas Wissler
Phone:	+49 40 309 293-52
E-Mail:	t.wissler@alsterresearch.com
Website:	www.alsterresearch.com
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