Evercore ISI analyst Ashton Welles upgraded Live Nation Entertainment to Outperform from In Line with a $100 price target. The analyst says the regulatory overhang, uncertainty about 2024 growth, and upside to near-term estimates creates an attractive entry point for the shares. Antitrust investigations are nothing new for Ticketmaster, and the current Justice Department investigation does not pose meaningful risk to for Live Nation shares, the analyst tells investors in a research note. The firm says the company has a long runway for sustained low double-digit growth driven by increasing consumer demand for concerts and live entertainment.
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