Live Nation Entertainment (NYSE:LYV) is up 1.2% postmarket after an upgrade to Outperform at Evercore.
Shares have "pulled back needlessly" after Q3 earnings, where the company weathered underperformance in its live events but gave a sunny outlook for 2020.
The coming year will mark another one of "strong, double-digit" growth in adjusted operating income, analyst David Joyce writes, and the company should weather any downturn as "concert-going is a recession-resilient business model."
He's maintaining a $73 price target, implying 13.2% upside.
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