$LYV Live Nation Upgrade and Insider buying
Bullish upgrades and insider buying in recent days
Alert set for break above $66.
Average analysts price target $77 \ Overweight.
7.45% short interest.
INSIDER BUY
Kahan James Director bought $276,000 of shares on Nov 8th.
TODAYS UPGRADE
Live Nation upgraded to Outperform from In Line at Evercore ISI. As previously reported, Evercore ISI analyst David Joyce upgraded Live Nation to Outperform from In Line with a $73 price target. The analyst believes Live Nation shares have "pulled back needlessly" following its Q3 earnings results, and recommended taking advantage of the pullback. Joyce sees 2020 as another year of "strong, double-digit" growth in adjusted operating income, or AOI, seeing 2020 AOI of $1.1B. He added that "concert-going is a recession-resilient business model" and as such, he doesn't see any potential recession impact.
Read more at:
thefly.com/landingPageNews.
Company profile
Live Nation Entertainment, Inc. is an entertainment company, which engages in producing, marketing and selling live concerts for artists via global concert pipe. It operates through the following segments: Concerts, Sponsorship & Advertising, Ticketing, and Artist Nation. The Concerts segment involves in the promotion of live music events in owned or operated and in rented third-party venues. The Sponsorship and Advertising segment offers sales force that creates and maintains relationships with sponsors through a combination of international, national, and local opportunities that allow businesses to reach customers through concerts, venue, festivals and ticketing assets, including advertising on websites. The Ticketing segment includes selling of tickets for events on behalf of clients and retains a fee, or service charge for these services. The Artist Nation consists of management services to music artists and clients in exchange for a commission on the earnings of these artists. The company was founded on August 2, 2005 and is headquartered in Beverly Hills, CA.
Alert set for break above $66.
Average analysts price target $77 \ Overweight.
7.45% short interest.
INSIDER BUY
Kahan James Director bought $276,000 of shares on Nov 8th.
TODAYS UPGRADE
Live Nation upgraded to Outperform from In Line at Evercore ISI. As previously reported, Evercore ISI analyst David Joyce upgraded Live Nation to Outperform from In Line with a $73 price target. The analyst believes Live Nation shares have "pulled back needlessly" following its Q3 earnings results, and recommended taking advantage of the pullback. Joyce sees 2020 as another year of "strong, double-digit" growth in adjusted operating income, or AOI, seeing 2020 AOI of $1.1B. He added that "concert-going is a recession-resilient business model" and as such, he doesn't see any potential recession impact.
Read more at:
thefly.com/landingPageNews.
Company profile
Live Nation Entertainment, Inc. is an entertainment company, which engages in producing, marketing and selling live concerts for artists via global concert pipe. It operates through the following segments: Concerts, Sponsorship & Advertising, Ticketing, and Artist Nation. The Concerts segment involves in the promotion of live music events in owned or operated and in rented third-party venues. The Sponsorship and Advertising segment offers sales force that creates and maintains relationships with sponsors through a combination of international, national, and local opportunities that allow businesses to reach customers through concerts, venue, festivals and ticketing assets, including advertising on websites. The Ticketing segment includes selling of tickets for events on behalf of clients and retains a fee, or service charge for these services. The Artist Nation consists of management services to music artists and clients in exchange for a commission on the earnings of these artists. The company was founded on August 2, 2005 and is headquartered in Beverly Hills, CA.