Live Nation Entertainment (LYV) PT Raised to $180 at Evercore ISI
Evercore ISI analyst Vijay Jayant raised the price target on Live Nation Entertainment (NYSE: LYV) to $180.00 (from $160.00) while maintaining a Outperform rating.
The analyst comments "We continue to see a strong setup for 2025 as LYV benefits from resilient consumer demand trends and a growing pipeline of inventory across both its owned venues as well as through the long-awaited recovery across stadium volumes. Despite continued investor concern over a softening consumer, management is not seeing a pullback in demand for concerts, whether it’s with major artists at big stadiums, smaller artists at clubs, at festivals (which are selling at record levels incl. strength ranging from EDM or country), or across various geographies. While 1Q will see outsized FX pressures and we would have hoped for even greater color on the expected strength for the year, growth should ramp significantly in 2Q-3Q while meaningful investments at Venue Nation should help sustain momentum into 2026 and onward. There were no substantive updates on the DOJ lawsuit, though there’s clear optimism that incoming leadership will return to a more traditional antitrust approach with efforts to find ways to solve potential problems with targeted remedies that minimize government intervention. Our 2025/26 AOI estimates come up 0.4%/1.3% to $2.39bn/$2.64bn and imply 11.2%/10.5% y/y growth. Raising PT from $160 to $180 (20.3x/18.8x EV/AOI on 2025E/2026E) given increased confidence in the strong setup for 2025 and longer-term growth profile."