Live Nation price target lowered to $92 from $120 at Jefferies

Jefferies analyst David Katz lowered the firm’s price target on Live Nation to $92 from $120 and keeps a Buy rating on the shares, citing his expectation that the shares reach the lower end of the valuation range of the past five years given what he sees as "the overhang of the regulatory review and the specter of a forthcoming recession." The recent outreach from U.S. government officials regarding the competitive positioning of given its ownership of concert promotions, agency and Ticketmaster has resurfaced due to the execution issues around Taylor Swift ticket sales and while the "regulatory pressures are real," they are also "temporary," Katz said.