Live Nation Entertainment Inc LYV:NYSE

Last Price$96.47NYSE Previous Close - Last Trade as of 7:00PM ET 8/18/22

Today's Change-1.01(1.04%)
Bid (Size)$93.51 (1)
Ask (Size)$95.84 (1)
Day Low / High$96.14 - 97.36
Volume20.00

Research Alert: CFRA Retains Buy Opinion On Shares Of Live Nation Entertainment

10:20AM ET 5/06/2022 MT Newswires
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

LYV is part of the reopening play as ticket holders attend live events, and we think the 2022-2023 global economy may face recession that could suppress concert demand. We lower our target by $30 to $105 using forward TEV/EBITDA of 29.1x, below peers at 34.1x that have less exposure to a live-attendance model. We think 2022 is a transition year from the pandemic, and we raise our EPS by $0.46 to $0.70, and in a more normalized 2023, we lower our estimate by $0.24 to $1.45. LYV reported a Q1 2022 net loss of -$0.39, narrower than -$0.67 consensus. LYV sold 20m more tickets year to date than before the pandemic in 2019. The Q2 and Q3 period is the seasonally strongest part of year, and LYV's Ticketmaster shows robust ticket buying of LYV and other live events. Our $13.4b revenue in 2022 reflects ticket prices up 2x where they were in 2019, and event mix is 4,716 venues in North America and 1,891 rest of world. Deferred revenue is $3.5b compared to $1.5b a year ago, as LYV has sold 70m tickets to date.