LYV - Live Nation gains as Wolfe is latest to see upside from return of concerts

Live Nation (LYV) made another of this week's strong daily moves higher, up 5.6% today, as analysts join in on a take that concerts are set for a revival. Wolfe Research started the stock at Outperform, saying the company's "poised for a multiyear cycle of strong growth as the reopening accelerates, for a business that will have the tailwind of favorable supply/demand and a structurally stronger margin profile coming out of the pandemic." The company's likely to grow its market share post-COVID given its scale, and its vertical position in the live entertainment industry, Wolfe says. Its year-end price target is $97, using a 20x EBITDA multiple. That target implies another 13% upside ahead. Wall Street analysts are Bullish on Live Nation on the whole, while Seeking Alpha authors are Neutral. The stock has a Quant Rating of Bearish.

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Live Nation gains as Wolfe is latest to see upside from return of concerts