CTS share price up following Fnac Darty announcement

German ticketing and live entertainment giant CTS Eventim has seen a surge in share price over the past few days, earlier today (29 July) trading at an all-time high of €46.88.

Shares in CTS Eventim (EVD) have increased by almost 7% in five days – up from €43.3 – since the company announced plans to acquire 48% of leading French ticket agency, France Billet, last week.

The share price represents an all-time high for Eventim, with the company’s market capitalisation surpassing the €4.5 billion mark for the first time.

The share price represents an all-time high for Eventim

On Friday, the company received a €53 target price from Hamburg-based Berenberg Bank, on the back of the company’s plans to establish a joint venture with France Billet owner, Fnac Darty. The price indicates a potential increase of 15% from the stock’s current value.

Shares have climbed €13 (38%) since the beginning of the year, following a successful first quarter and an “acceleration” of financial performance in Q2 of 2019 .

At press time, CTS Eventim shares were priced at €46.10.

Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.