Deutsche Bank analyst Benjamin Soff raised the firm’s price target on Live Nation (LYV) to $150 from $130 and keeps a Buy rating on the shares. The firm increased its multi-year adjusted operating income and unlevered free cash flow estimates following Live Nation’s Q4 results and investor day last week. Live Nation refreshed its framework for long-term operating income growth, which now implies a greater future opportunity compared with this time last year, the analyst tells investors in a research note. Deutsche expects Live Nation’s portfolio of owned and operated venues will be one of the main drivers of income growth in the coming years.
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