This Live Nation Entertainment Analyst Expects Above Trend Growth To Continue
Portfolio Pulse from Priya Nigam
Roth Capital Partners analyst Eric Handler upgraded Live Nation Entertainment Inc (NYSE:LYV) to Buy and raised the price target from $92 to $114, citing positive secular demand for live events. Handler expects above-trend growth for the company over the next several years, with revenue and AOI estimates for 2024 above consensus. He also mentioned that the DOJ investigation is likely to have minimal impact and resolve in 2024. Despite the positive outlook, LYV shares declined by 0.91% to $90.48 in early trading on Friday.
January 12, 2024 | 5:09 pm
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POSITIVE IMPACT
Live Nation Entertainment Inc (LYV) was upgraded to Buy by Roth Capital with a raised price target of $114, indicating strong growth prospects despite a current share price decline.
The upgrade by Roth Capital Partners and the raised price target suggest a strong bullish sentiment for Live Nation's future performance. The positive outlook on revenue and AOI, along with the expectation of minimal impact from the DOJ investigation, are likely to be viewed favorably by investors. Although the stock price saw a slight decline, the upgrade and positive analyst commentary could lead to increased investor confidence and upward price movement in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100