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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