Roth MKM upgraded Live Nation to Buy from Neutral with a price target of $114, up from $92. Positive secular demand for live events and concerts positions Live Nation well for above-trend growth over the next several years, the analyst tells investors in a research note. In addition, the firm anticipates the Department of Justice’s investigation of Live Nation will achieve a resolution this year, with minimal impact, which should remove a valuation overhang. The company’s outlook remains strong with upside potential, contends Roth.
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