CFRA Upgrades Live Nation Entertainment (LYV) to Hold

CFRA analyst Kenneth Leon upgraded Live Nation Entertainment (NYSE: LYV) from Sell to Hold with a price target of $135.00.

The analyst commented, "We think the share price is near our view of fair value, which is our $135 target price (unchanged). Our target uses a forward TEV/EBITDA of 13.4x, in line with its five-year historic average near 14.0x.LYV does not generate enough earnings power to support P/E multiples that seem reasonable. Our EPS estimates are unchanged at $2.95 for FY 25 and $2.85 for FY 26. LYV shares have sold off nearly 14% in the past two weeks with concern that consumer discretionary spending may weaken given geopolitical risks. Live entertainment and exorbitant ticket prices have raised investor concerns whether record demand will recede with a rising household cost of living and lower consumer confidence. Nonetheless, LYV is a market leader in tickets and continues to fund large capital expenditures to expand its own venues."

For an analyst ratings summary and ratings history on Live Nation Entertainment click here. For more ratings news on Live Nation Entertainment click here.

Shares of Live Nation Entertainment closed at $138.15 yesterday.

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