1129 ET - Sportradar gets a double upgrade at Bank of America, which ups its rating on the sports-betting company's shares to buy from underperform. In a note. BofA cites higher confidence in Sportradar's ability to participate in continued global strong online sports betting growth, as well as increasing cost visibility and margin leverage as the company has lapped a number of major rights renewals. The analysts also cite potential upside from the recently announced IMG Arena transaction, along with AI opportunities for both costs and revenues. BofA lifts its Sportradar price objective to $28 from $12. Sportradar up 9.3% to $25.14. (colin.kellaher@wsj.com)
(END) Dow Jones Newswires
April 22, 2025 11:29 ET (15:29 GMT)
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