NEW YORK (TheStreet) -- Live Nation Entertainment (LYV) shares are up 2.1% to $22.43 after being upgraded to "buy" from "neutral" by analysts at Northcoast Research, who also set a $28 price target on the company's shares on Tuesday.
The concert and live entertainment company reported second quarter earnings of 11 cents per diluted share on July 31, in line with analysts expectations, on revenue of $1.66 billion that was ahead of the Street's consensus guidance.
The new price target represents a 24.8% upside from the stock's current price.
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TheStreet Ratings team rates LIVE NATION ENTERTAINMENT as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LIVE NATION ENTERTAINMENT (LYV) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: