Albert Fried & Company Starts Live Nation Entertainment (LYV) at Buy, Possible Acquisition Target
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Price: $188.46 +1.29%
Rating Summary:
27 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
27 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Albert Fried & Company initiates coverage on shares of Live Nation Entertainment (NYSE: LYV) with a Buy rating and $12 price target.
The firm likes the fact that inside management owns 6 percent of the company and believes that Liberty Media (Nasdaq: LSTZA) could possibly make an offer on the company.
An analyst at Albert Fried comments, "We think LYV benefits from a renaissance in the music industry as recording companies and artists find new solutions to thwart illegal P2P file sharing. We also argue the live events LYV produces and tickets are defensible in a media eco-system transitioning from traditional to digital distribution."
For 2011 and 2012, the firm is estimating EPS of ($0.09) and $0.40. Revenue for the two years is estimated to be $5.565 billion and $5.8 billion.
Considering that shares of LYV are trading at a 50 percent discount of their 52-week high, Albert Fried sees "ample upside" to shares.
For more ratings news on Live Nation Entertainment click here and for the rating history of Live Nation Entertainment click here.
Shares of Live Nation Entertainment closed at $8.05 yesterday.
The firm likes the fact that inside management owns 6 percent of the company and believes that Liberty Media (Nasdaq: LSTZA) could possibly make an offer on the company.
An analyst at Albert Fried comments, "We think LYV benefits from a renaissance in the music industry as recording companies and artists find new solutions to thwart illegal P2P file sharing. We also argue the live events LYV produces and tickets are defensible in a media eco-system transitioning from traditional to digital distribution."
For 2011 and 2012, the firm is estimating EPS of ($0.09) and $0.40. Revenue for the two years is estimated to be $5.565 billion and $5.8 billion.
Considering that shares of LYV are trading at a 50 percent discount of their 52-week high, Albert Fried sees "ample upside" to shares.
For more ratings news on Live Nation Entertainment click here and for the rating history of Live Nation Entertainment click here.
Shares of Live Nation Entertainment closed at $8.05 yesterday.
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