- Jefferies analyst David Katz raised the price target on Live Nation Entertainment Inc (NYSE: LYV) to $125 from $103, implying a 0.9% upside, and reiterated a Buy on the shares following Q3 results that he said reflect "robust growth in concert activity backed by outsized fan growth."
- While Katz contends that Live Nation "defines the consumer recovery as well as any names in our coverage," he also argues that its "growing leadership in live entertainment globally" warrants a growing premium.
- Live Nation reported third-quarter FY21 revenue of $2.7 billion, beating the consensus of $2.1 billion. It clocked $184 million in revenue in Q3 FY20.
- Revenue from concerts was $2.15 billion. EPS of $0.19 beat the consensus loss of $(0.06).
- Price Action: LYV shares closed higher by 15.2% at $123.8 on Friday.
Latest Ratings for LYV
Date | Firm | Action | From | To |
---|---|---|---|---|
Nov 2021 | Jefferies | Maintains | Buy | |
Nov 2021 | Morgan Stanley | Maintains | Equal-Weight | |
Nov 2021 | Cowen & Co. | Maintains | Outperform |