Live Nation price target raised to $115 from $105 at Oppenheimer

Oppenheimer raised the firm’s price target on Live Nation to $115 from $105 and keeps an Outperform rating on the shares. The firm likes Live Nation’s Q4 setup and is expecting double-digit 2024 AOI growth on strong concert supply/demand dynamics, higher Venue Nation footprint boosting fan profitability, and Sponsorships accelerating from Q4’s high single-digit exit-rate. Oppenheimer views any potential DOJ announcement as a clearing event that likely provides investors a higher degree of outcome predictability.