TD Cowen keeps a Buy rating on Live Nation with a $108 price target after the Wall Street Journal reported the Justice Department is getting ready to bring an antitrust suit against the company as soon as this May. It remains unclear if the suit would call for a full breakup or lesser remedies such as prohibiting exclusivity contracts, the latter of which would be positive for the shares, the analyst tells investors in a research note. The firm believes a full divestiture of Ticketmaster would be negative for the stock while something lesser, like prohibitions on secondary ticketing or exclusive venue deals, would be received favorably by investors.
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