Live Nation's Strategic Moves: From Enhanced Artist Relations To Expanding Global Footprint, Analyst Sees Continued Momentum

Benchmark analyst Matthew Harrigan reiterated a Buy rating on the shares of Live Nation Entertainment Inc LYV with a price target of $110.

The analyst said the company has enviable secular growth momentum past arduous COVID recovery comparisons.

Live Nation continues to innovate in both developing technology for music experiences and its ticketing platform as well as democratizing the music business for the benefit of developing artists while ensuring underlying creative growth vitality, added the analyst.

As artists travel in response to comparable or better consumer demand and attendant economics, international activity is highly attractive, although relative margins can be affected by 3rd party versus owned venue composition, opined the analyst.

The analyst said Live Nation had last month announced it is ending all merchandize fees and offering $1,500 stipends for club headliners, actions that are very friendly to developing artists.

Last week, Live Nation-owned Veep launched a subscription service enabling fans to access “all” available livestream shows and on-demand replays for an $11.99 monthly fee or $120 per year.

Veeps, the analyst said, is now live domestically and planning an international expansion that also embraces other music related talk, comedy and documentary content.

The analyst noted that any dampening of travel and entertainment stock sentiment and price action off the tragic and unexpected Israel Hamas conflict should be temporary.

The Eras Tour is a continuing benefit and sometimes pain to Live Nation and overall global music business, noted the analyst.

Price Action: LYV shares are trading lower by 0.36% at $87.19 on the last check Monday.