LYV - Live Nation rises 5% as Jefferies urges dip-buying on long-term concert outlook

Live Nation (LYV) has risen 5.2% after an upgrade to Buy at Jefferies, which sees a compelling entry point after a recent decline. The shares slipped 13% since March 2, vs. an 11% gain for the broader market, the firm points out. And it joins some other analyst positivity in reaction to the company's earnings report. That report showed narrower than expected losses but the current results are less relevant than the longer-term picture, Jefferies says. The company noted concerts in the U.S. and UK are showing pent-up demand. But more important, management said the pipeline and sponsorship commitments in 2022 are up double digits from 2019; "In addition, considerable incremental ticketing clients have been added for over 5M new net fee-bearing tickets YTD. These elements bolster our bullish stance." "We believe the recent pullback prices in the more gradual return to profitability in 2021 - herein lies the opportunity. For us,

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Live Nation rises 5% as Jefferies urges dip-buying on long-term concert outlook