Morgan Stanley upgraded its rating of Live Nation Entertainment LYV to Overweight with a price target of $110.00, changing its price target from $100.00 to $110.00.
Shares of Live Nation Entertainment are trading up 3.45% over the last 24 hours, at $91.10 per share.
A move to $110.00 would account for a 20.75% increase from the current share price.
About Live Nation Entertainment
Live Nation is the largest live entertainment firm in the world with over 670 million fans served in 48 countries in 2022 by the company's concert and ticketing platforms. Via either owning, operating, or holding exclusive booking rights, Live Nation controls over 338 venues including the House of Blues. Live Nation also owns one of the largest ticketing services, Ticketmaster, which sold over 550 million tickets for over 12,000 clients in 2022. Its artist management agencies have over 400 clients. This large live entertainment footprint helped Live Nation become one of the largest advertising and sponsorship platforms aimed at music fans. Liberty Media owns 31% of Live Nation, held under its Sirius XM tracking stock. Liberty plans to spin off its stake into a dedicated tracking stock.
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