J.P. Morgan analyst David Karnovsky maintained a Buy rating on Live Nation Entertainment today and set a price target of $180.00.
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David Karnovsky has given his Buy rating due to a combination of factors that highlight Live Nation Entertainment’s strong growth potential and current market position. The company is expected to deliver above-consensus Adjusted Operating Income (AOI) for the upcoming quarter, driven by increased activity in owned and operated venues and a rise in stadium events. This growth is supported by the expansion of Venue Nation, which is anticipated to be a significant long-term driver.
Despite recent regulatory challenges, including a lawsuit against Ticketmaster, Karnovsky remains optimistic about Live Nation’s future. The company benefits from a robust live entertainment industry backdrop and has a track record of strong execution. Additionally, its valuation is currently below historical levels, presenting an attractive investment opportunity. Karnovsky maintains a price target of $180, reflecting confidence in Live Nation’s ability to achieve multi-year double-digit AOI and free cash flow growth.