
NYSE:LYV
This summary was created by AI, based on 4 opinions in the last 12 months.
Live Nation Entertainment Inc. (LYV) has garnered positive reviews from experts who view it as a leading player in the live music industry, highlighting its unique position and growth potential. One expert emphasizes the company's strength, noting a 22% increase in deferred revenue year-over-year and an 11% rise in ticket sales, suggesting resilience in its business model. Despite ongoing anti-trust lawsuits, including a settlement with the Department of Justice, many analysts remain optimistic about the company's future, with a price target of $178.35. There is a prevailing sentiment that while challenges exist, the overall outlook for Live Nation remains stable, with expectations of double-digit revenue growth in the near future. Additionally, the demand for live experiences continues to strengthen as fans seek to see their favorite bands perform live again.
LYV 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.
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He'd double-down on this after recommending this some weeks ago, though the stock has been a bit of a dud since then. Let's assume demand will be there. Goldman Sachs (in this bullish call today) said there'll be twice as many musicians touring than in a normal year, and LN can capitalize. Rising cases are not enough to justify lockdowns, because people won't allow. He still likes this.
Our PAST TOP PICK with LYV has triggered its stop at $89. To remain disciplined, we recommend covering the position at this time.