Why A Live Nation Entertainment Analyst Raises Forecasts On 2024 Pipeline
Portfolio Pulse from Priya Nigam
Shares of Live Nation Entertainment Inc (NYSE:LYV) rose after the company reported record-breaking quarterly results. The company is expected to benefit from strong concert demand continuing into 2024, according to Oppenheimer. Analyst Jed Kelly maintained an Outperform rating for Live Nation Entertainment while raising the price target from $110 to $115. The company's 2024 event pipeline is up from what the 2023 pipeline looked like last year. Live Nation Entertainment's deferred revenue has also accelerated to +37% year-on-year.
July 28, 2023 | 3:38 pm
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Live Nation Entertainment's stock rose after strong quarterly results and a raised price target from $110 to $115 by Oppenheimer analyst. The company's 2024 event pipeline and deferred revenue growth are positive indicators.
The company's strong quarterly results and the raised price target by the analyst are positive news that can boost investor confidence and drive the stock price up. The growth in the company's 2024 event pipeline and deferred revenue also indicate a positive outlook for the company, which can further support the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100