Jefferies Sees Achievable Path to $1B+ in AOI for Live Nation (LYV); PT to $33
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Jefferies analyst John Janedis reiterated a Buy rating and bumped his price target on Live Nation Entertainment (NYSE: LYV) to $33.00 (from $32.00) saying they see an achievable path to $1B+ in AOI.
Janedis commented, "LYV recently laid out a path to generate $1B+ (JEF '16E: $645M) in AOI. While no explicit timeline was set, we believe LYV can reach $1B+ in <5 yrs, implying an acceleration of AOI growth into the low-DD vs. HSD over the past 5. We explore each opp. in more detail & believe LYV's core businesses have a multiyear secular growth tailwind / defensible moat."
Shares of Live Nation Entertainment closed at $27.77 yesterday.
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