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Live Nation upgraded to Buy from Neutral at Citi
The Fly

Live Nation upgraded to Buy from Neutral at Citi

Citi analyst Jason Bazinet upgraded Live Nation Entertainment to Buy from Neutral with a price target of $82, down from $90. If Live Nation remains a single firm, the shares are worth $90 per share, Bazinet tells investors in a research note. If the company is forced to split into two firms, the shares are worth $48, says the analyst. He ascribes an 80% likelihood that the firm remains intact and a 20% likelihood that Live Nation is forced to unwind the 2010 merger. Following the recent share selloff, Bazinet says Live Nation’s risk/reward profile "looks more reasonable."

Published first on TheFly

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