Seaport Research analyst David Joyce initiated coverage of Live Nation with a Buy rating and $85 price target. The firm is starting coverage of a total of ten companies in the Live Sports & Entertainment segment with a generally positive thesis due to proven operational resiliency during economic downturns, for the long-term appreciating nature of the scarce professional sports teams, and for deep discounts to NAV for certain names that may take some time for the ultimate catalysts to unfold.
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