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Fly News Breaks for October 8, 2019
LYV
Oct 8, 2019 | 07:36 EDT
Morgan Stanley analyst Benjamin Swinburne initiated coverage of Live Nation with an Equal Weight rating and $75 price target. While the company benefits from a leading position in the growing live events industry, consensus estimates call for double-digit adjusted operating income growth over the next four years and the stock's multiple has expanded by 40% in the last three years, leaving the stock as "a fairly consensus long priced for perfection," Swinburne tells investors.