UPDATE: Evercore Partners Lowers PT on Live Nation Entertainment to $12

Evercore Partners lowers its price target on Live Nation Entertainment

from $13 to $12 in a research report out today. Presently, Evercore Partners has an Equal-Weight rating on shares of the company. In the research report, Evercore Partners writes, "Our rating remains Equal-Weight. It's early in the year. The CTS Eventim arbitration remains unresolved and management is guarded on the 2012 outlook. We'll wait for a better entry point. Our new target price is $12 (from $13) based on a DCF valuation." Shares of Live Nation Entertainment are currently trading at $9.32, up 0.22% from Friday's market close.