Citi ups Live Nation target on less DOJ risk post election

Citi raised the firm’s price target on Live Nation (LYV) to $163 from $130 and keeps a Buy rating on the shares post the Q3 report. The firm rolled its valuation forward from 2024 to 2026, saying the Department of Justice risks “may be less acute” following the U.S. election. Given the recent election results, it is far less likely that the new Justice Department pursues structural changes by separating Ticketmaster from Live Nation, the analyst tells investors in a research note. Citi believes Live Nation’s current structure is now “apt to endure.”