Live Nation Bull Analyst Sees 15% Upside Ahead For Concert Stock, Notes 'Wider Network Of Fans'
Portfolio Pulse from Priya Nigam
Shares of Live Nation Entertainment Inc (NYSE:LYV) have climbed more than 40% year to date. Analyst Jed Kelly from Oppenheimer initiated coverage of Live Nation Entertainment with an Outperform rating and a price target of $110. Kelly noted that the company's breadth of inventory is well positioned to deliver more events to a wider network of fans and is likely to benefit from music streaming advancements. Live Nation's proactive partnership with legislators on fair ticketing initiatives is expected to reduce the likelihood of a negative regulatory outcome.
July 21, 2023 | 3:14 pm
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Live Nation Entertainment's shares have climbed over 40% YTD. The company is expected to benefit from its wide inventory and music streaming advancements. Its proactive partnership with legislators on fair ticketing initiatives is expected to reduce the likelihood of a negative regulatory outcome.
The company's shares have been performing well, climbing over 40% YTD. The positive outlook from Oppenheimer's analyst, who initiated coverage with an Outperform rating and a $110 price target, is likely to boost investor confidence. The company's wide inventory and advancements in music streaming are expected to increase fan engagement and create more demand opportunities. Additionally, the company's proactive partnership with legislators on fair ticketing initiatives is expected to reduce the likelihood of a negative regulatory outcome, which could have a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100