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.
Published first on TheFly
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