$LYV: Benchmark Reaffirms Buy at $190 — But $20M Antitrust Settlement Still Casts a Shadow

Court: C.D. California

Case: 2:23-cv-6343

Benchmark analyst Matthew Harrigan reiterated a Buy rating on Live Nation Entertainment LYV, setting a price target of $190, above the current share price of $161.99. The analyst cited continued strength in the company’s live events and Ticketmaster segments, while Wall Street consensus points to an average price target of $180.59, suggesting an 11.5% upside. Shares are trading 2% below their 52-week high, supported by robust demand in concerts and sponsorship. Still, despite analyst optimism, Live Nation’s recent $20 million investor settlement tied to antitrust and regulatory risks remains an overhang.

• $190 price target reiterated by Benchmark; consensus at $180.59.
• Strong Buy rating from multiple analysts, signaling confidence in growth.
• Stock up 50% from its one-year low of $107.14.
• Ticketmaster dominance continues to drive fee-based revenue streams.
• $20M cash settlement underscores ongoing antitrust scrutiny.

Timeline Overview

• Jan 2010 — Live Nation and Ticketmaster merged under DOJ consent decree.
• Nov 18, 2022 — DOJ antitrust probe revealed; LYV fell 7.8%.
• Feb 23, 2023 — Senate subcommittee hearing criticized Ticketmaster practices; stock dropped 10%.
• Jul 28, 2023 — DOJ lawsuit reports triggered another 7.8% decline.
• Aug 6, 2023 — Investors filed suit alleging Live Nation misled on regulatory risks.
• Dec 2024 — Live Nation agreed to a $20M cash settlement with investors.

Allegations Include

• Using Ticketmaster to monopolize ticket sales and inflate fees.
• Retaliating against venues working with competitors.
• Misleading investors by downplaying regulatory risks.

Investor Update

The $20M settlement resolves claims but reinforces investor caution over ongoing antitrust scrutiny and regulatory exposure. While analysts remain bullish on near-term growth, longer-term risks around Ticketmaster’s dominance and DOJ oversight persist.

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