Live Nation price target lowered to $80 from $95 at Morgan Stanley

Morgan Stanley analyst Benjamin Swinburne lowered the firm’s price target on Live Nation to $80 from $95 and keeps an Equal Weight rating on the shares. His lower target is meant to capture the broader de-rating across Technology, Media, and Telecommunications and his expectation for more normalized growth in 2023, Swinburne said. While he sees recent weakness in shares from Taylor Swift headlines as "overdone," Swinburne acknowledges there is little visibility into the reported DOJ antitrust investigation.