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UPDATE: Albert Fried Initiates Coverage On SFX Entertainment

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In a report released Monday, Albert Fried & Co. director of research Rich Tullo initiated coverage on SFX Entertainment (NASDAQ: SFXE) with an Overweight rating and an $11.00 price target.

Analyst at Albert Fried like SFX's exposure to the electronic dance media (EDM) segment, a segment worth an estimated $15 billion. EDM is said to be a play on millennial demographics and the genre is projected to grow in popularity much faster than pop, country western and rock. SFX is credited for being a play on social media, presenting upside potential for attractive FCF on an EV-to-Revenue and EV-to-AOCF basis.

Albert Fried analyst believes management's 10b5 share repurchase program signals growth in the company's future and remain very bullish on the multi-year global festivals expansion. Tullo claims SFX Entertainment holds significant upside potential and favorable risk/reward scale.

Posted-In: Albert Fried & Co. Rich TulloAnalyst Color Price Target Initiation Analyst Ratings

 

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