Market Overview

UPDATE: Albert Fried Initiates Coverage On SFX Entertainment

Related SFXE
SFX Boosts Amount Payable To Holders To $10 Per $1,000, Was Paying $2.50 Per $1,000
SFX Entertainment, Inc. Announces Extension of Consent Solicitation And Modification of Proposed Amendments Relating to Its 9.625% Second Lien Senior Secured Notes Due 2019

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.

Latest Ratings for SFXE

DateFirmActionFromTo
Aug 2014JefferiesMaintainsBuy
Jun 2014Albert Fried & Co.Initiates Coverage onOverweight
Apr 2014Deutsche BankMaintainsBuy

View More Analyst Ratings for SFXE
View the Latest Analyst Ratings

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

 

Related Articles (SFXE)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters