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Wednesday, April 27, 2022

A BULLISH VIEW OF LIVE NATION

With a prediction of double-digit long-term growth for Live Nation and signs that the coming year will be particularly strong, analyst Rosenblatt Securities has initiated coverage of the company.

Analyst Barton Crockett is eyeing a price target of $138, noting event-related deferred revenue of $2.3b, a 30% spike in show bookings and presales of 45m tickets through mid-February. Live Nation stock opened at $107.21 today.

Crockett expects the post-COVID boom in live events to last years. "When this debate does happen, it will be answered favorably, we assume, based on a solid trajectory entering the pandemic," he said.

Per Seeking Alpha, LN expects compound annual growth in revenues over 12 years (2019-2031) at 13%, with a 15% compound annual growth rate in adjusted operating income and 17% CAGR in free cash flow per share.

TAGS: Live Nation | Rosenblatt Securities
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