Why Live Nation Is Josh Brown s No. 1 Reopening Play
Live Nation Entertainment Inc (NYSE:LYV) is the reopening play that Ritholtz Wealth Management CEO Josh Brown feels most strongly about, he said Tuesday on CNBC s Fast Money: Halftime Report.
Live Nation opened up ticketing for Astroworld in Houston and sold 100,000 tickets in an hour, Brown said.
Every show this summer is going to be sold out, he told CNBC.
All of the Live Nation venues are reopening, and the stock has a market cap of about $18 billion, Brown said, adding that the current valuation is a joke.
Live Nation s stock is going to continue to trend higher as people enjoy festivals and concerts this summer, he said.
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Live Nation Entertainment Inc (NYSE: LYV) is moving higher on Monday morning after Jefferies upgraded the stock on the back of the company s better-than-expected earnings last week.
What Happened: Jefferies analyst David Katz upgraded Live Nation from a Hold to a Buy and raised his price target from $88 to $96.
The company reported that popular festivals like Bonnaroo, Electric Daisy and Rolling Loud all sold out in record time at full capacity. With Ticketmaster’s client base increasingly shifting to digital ticketing, we will continue to enhance our offerings, ranging from upsell and improved advertising opportunities, as well as blockchain and NFT ability on the Ticketmaster platform, the company stated in its earnings press release.
Live Nation Entertainment Inc (LYV) Q1 2021 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Live Nation Entertainment Inc (NYSE: LYV)
Q1 2021 Earnings Call
Operator
Good day, everyone. My name is Hector, and I will be your conference operator on today s call. At this time, I would like to welcome everyone to Live Nation Entertainment s First Quarter 2021 Earnings Conference Call. Today s conference is being recorded. [Operator Instructions] Before we begin, Live Nation has asked me to remind you that this afternoon s call will contain certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ, including statements related to the company s anticipated financial performance, business prospects, new developments and similar matters. Please refer to Live Nation s SEC filings, including the risk factors and cautionary statements included in
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