Stifel Sees Sportradar (SRAD) as Buy Amid Rational Sports Betting Duopoly

Sportradar Group AG (NASDAQ:SRAD) ranks among the best high growth European stocks to buy. Stifel began coverage of ​Sportradar Group AG (NASDAQ:SRAD) with a Buy rating and a $28 price target on January 21. Stifel believes Sportradar’s dominant scale and portfolio variety position it well against rivals for new rights, even though the company remains in the early phases of upselling consumers to higher profit and value products.

The firm emphasizes that the online sports betting industry seems to be forming into a rational duopoly, reducing displacement risk, while near-term rights inflation and margin growth are de-risked owing to ideal timing in the rights contract period.

Stifel notes that, while ​Sportradar Group AG (NASDAQ:SRAD) shares have almost doubled in the span of two years, the stock has pulled back in the last five months, providing what the firm considers an attractive entry point.

​Sportradar Group AG (NASDAQ:SRAD) is a global sports technology company providing data and software solutions to sports federations, media, and sports betting operators.

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Disclosure: None. This article is originally published at Insider Monkey.