Brokerages are strongly recommending that investors buy Live Nation stock, the latest being Jefferies which has given the stock an $84 price target. The recommendation coincides with Live Nation announcing that it intends to offer $950m in senior notes due in 2027.
The company intends to use the net proceeds from this offering, together with borrowings under its new senior secured credit facility, to redeem all of its existing 5.375% senior notes due 2022, and repay in full its existing loans from the senior secured credit facility.
Live Nation is already up 34.5% this year. The stock opened this morning at $66.47, having peaked in late July at $73.72. Currently, nine of the 14 covering brokerages have made "strong buy" recommendations.
THE COUNT: COLDPLAY IS HOT, COUNTRY'S COOKIN' IN THE U.K.
The latest tidbits from the bustling live sector (3/28a)
SONG REVENUE:
A STYLISTIC STEW MC, divas and singer-songwriters rub elbows. (3/28a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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