Morgan Stanley analyst Benjamin Swinburne maintained a Hold rating on Live Nation Entertainment (LYV) today and set a price target of $40.00. The company’s shares closed last Friday at $30.01, close to its 52-week low of $21.71.
According to TipRanks.com, Swinburne is a 5-star analyst with an average return of 8.1% and a 55.2% success rate. Swinburne covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Liberty Sirius XM Group, and Charter Communications.
Currently, the analyst consensus on Live Nation Entertainment is a Moderate Buy with an average price target of $54.50, a 61.7% upside from current levels. In a report issued on March 23, Citigroup also upgraded the stock to Hold with a $35.00 price target.
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The company has a one-year high of $76.60 and a one-year low of $21.71. Currently, Live Nation Entertainment has an average volume of 4.42M.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LYV in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Live Nation Entertainment, Inc. is an entertainment company, which engages in producing, marketing and selling live concerts for artists via global concert pipe. It operates through the following segments: Concerts, Sponsorship & Advertising and Ticketing. The Concerts segment involves in the promotion of live music events in owned or operated and in rented third-party venues. The Sponsorship and Advertising segment offers sales force that creates and maintains relationships with sponsors through a combination of international, national, and local opportunities that allow businesses to reach customers through concerts, venue, festivals and ticketing assets, including advertising on websites. The Ticketing segment includes selling of tickets for events on behalf of clients and retains a fee, or service charge for these services. The company was founded in 1996 and is headquartered in Beverly Hills, CA.
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