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Fly News Breaks for October 4, 2019
LYV
Oct 4, 2019 | 07:19 EDT
Guggenheim analyst Curry Baker raised his price target for Live Nation Entertainment to $84 from $80 to reflect the addition of the Ocesa acquisition into his model. The analyst forecasts Ocesa will deliver $517M of revenue and $90M of adjusted operating income in 2020, which implies ~6% growth over 2019. However, given Live Nation's ability to leverage its global content pipeline, these estimates may prove conservative, Baker tells investors in a research note. He keeps a Buy rating on shares of Live Nation.
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