After the Department of Justice, joined by 29 states and DC, filed an antitrust lawsuit against Live Nation seeking to break up the business, Guggenheim analyst Curry Baker says the firm expects the company to vigorously defend itself against this lawsuit. The firm, whose view remains unchanged that the DOJ “does not have a substantive or winnable case” based on precedent and the facts, calls the case “weak” and thinks it “ultimately fails.” Guggenheim, which also believes “today’s action is purely politics in an election year to win over voters,” keeps a Buy rating on Live Nation shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LYV:
- Live Nation Stock (LYV) Falls as Antitrust Lawsuit Looms
- U.S House passes Ticket Act for more transparency and fairness to pricing
- Lone Pine Capital takes new position in Intuit, exits Alphabet stake
- Live Nation bid to avoid antitrust lawsuit seen falling short, Bloomberg says
- Shopify upgraded, SolarEdge downgraded: Wall Street’s top analyst calls