Seeking Alpha

Live Nation +1.2% as Evercore sees strong year ahead

|About: Live Nation Entertainment,... (LYV)|By:, SA News Editor

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.

Sell-side analysts are Bullish on the shares, which have a Quant Rating of Neutral.

Try Seeking Alpha PREMIUM for unlimited analysis on LYV