NYSE:LYV
Live Nation Entertainment Inc. (LYV)
Financials 
Technical Analysis 
Concert business is on fire. Stock's been on a rollercoaster due to being sued by DOJ on anti-trust allegations. Pressure short term, but long-term a wonderful business. Great management and free cashflow growth.
Barry Schwartz
;fill-opacity:1;'/%3e%3cpath%20d='M31%2018.6001V30H8V18.6001L14.1334%2022.4334L19.4999%2014L24.8669%2022.4334L31%2018.6001Z'%20fill='%23EE5432'%20style='fill:%23EE5432;fill:color(display-p3%200.9340%200.3310%200.1956);fill-opacity:1;'/%3e%3c/svg%3e){kind=small}
Premium content
Premium contentThe US based event ticket seller has been building cash reserves and retiring debt. Pent up demand for concert goers is expected to see double-digit growth in key parameters for the next few years. It is expensive at 70x earnings, but the 65% ROE demonstrates its market dominance in the sector. We recommend setting a stop-loss at $89, looking to achieve $117 — upside potential of 20%. Yield 0%
(Analysts’ price target is $116.88)They control almost all the live venues for concerts. Demand and schedule for concerts remains huge, like Canadians seeing Taylor Swift in other countries.
David BaskinLYV is up 21% this year, which we would not consider so bad. Sales have tripled since 2020 in the covid rebound, and are expected to rise about 10% next year. Concert sales rose 29% last quarter. There are some legal issues, regarding concentration in the industry and investigations by the government, but otherwise we do not see a lot of issues. At 75X earnings, however, the stock is too expensive to get us really interested.
Unlock Premium - Try 5i Free
Post Covid-19 demand for entertainment will remain strong.
Higher prices not impacting demand.
Artists forced to tour as a result of Spotify.
Expecting many years of live show demand growth.
Expanding vertically into venue ownership.
Barry SchwartzDavid BaskinBarry Schwartz
Brian Madden
'%20fill='%23ffffff'%3e%3cg%20id='Pager'%20transform='translate(423.000000,%201755.000000)'%3e%3cpath%20d='M243.295367,17.286474%20C243.68919,16.9045087%20244.327703,16.9045087%20244.721525,17.286474%20L249,21.4361302%20L253.278475,17.286474%20C253.672297,16.9045087%20254.31081,16.9045087%20254.704633,17.286474%20C255.098456,17.6684393%20255.098456,18.2877274%20254.704633,18.6696927%20L249.35654,23.856763%20C249.159628,24.0477457%20248.840372,24.0477457%20248.64346,23.856763%20L243.295367,18.6696927%20C242.901544,18.2877274%20242.901544,17.6684393%20243.295367,17.286474%20Z'%20id='Path'%20transform='translate(249.000000,%2020.500000)%20scale(-1,%201)%20rotate(-90.000000)%20translate(-249.000000,%20-20.500000)%20'%3e%3c/path%3e%3c/g%3e%3c/g%3e%3c/g%3e%3c/svg%3e)
'%20fill='%23ffffff'%3e%3cg%20id='Pager'%20transform='translate(423.000000,%201755.000000)'%3e%3cpath%20d='M243.295367,17.286474%20C243.68919,16.9045087%20244.327703,16.9045087%20244.721525,17.286474%20L249,21.4361302%20L253.278475,17.286474%20C253.672297,16.9045087%20254.31081,16.9045087%20254.704633,17.286474%20C255.098456,17.6684393%20255.098456,18.2877274%20254.704633,18.6696927%20L249.35654,23.856763%20C249.159628,24.0477457%20248.840372,24.0477457%20248.64346,23.856763%20L243.295367,18.6696927%20C242.901544,18.2877274%20242.901544,17.6684393%20243.295367,17.286474%20Z'%20id='Path'%20transform='translate(249.000000,%2020.500000)%20rotate(-90.000000)%20translate(-249.000000,%20-20.500000)%20'%3e%3c/path%3e%3c/g%3e%3c/g%3e%3c/g%3e%3c/svg%3e)
Lots of overhang. Prices have certainly increased. Lots of political pressure on how tickets are sold. Government may step in and impose regulations. He likes names without those threats. Chart is volatile.