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- Live Nation Entertainment (LYV) was downgraded at Susquehanna to “Neutral” from “Positive,” while raising its price target to $186 from $181.
- New PT represents about 2.8% upside from the last close of $180.86.
- Analyst Joseph Stauff at Susquehanna said a concentrated third-quarter 2026 schedule leaves limited upside and expects modest growth, forecasting 2026 revenue and EBITDA growth of about 5% and 2%, respectively.
- The brokerage also estimates Ticketmaster growth of roughly 2% in the third quarter.
- “We are not sure what progress has occurred within TM, but we think it is a particularly sensitive value driver in either direction,” Stauff added.
- The analyst assumes mid-single-digit growth for Ticketmaster beyond 2026.
- The $186 price target is based on a sum-of-the-parts valuation implying a roughly $46.8 billion valuation and a 16x multiple on 2027 EBITDA estimates, the brokerage said.
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