Roth MKM lowered the firm’s price target on Live Nation to $85 from $102 but keeps a Neutral rating on the shares. The company is set to report “another strong demand quarter”, and the firm is raising its Q3 estimates to reflect higher concert ticket pricing, while lowering its Q4 AOI to account for higher pre-paid advertising expenses, the analyst tells investors in a research note. The firm adds however that its neutral rating is driven by “concerns about the consumer”.
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