(VIP-NEWS) — Live Nation Entertainment shares hit a 52-week high in Wednesday morning trading, as the stock market surged broadly following Donald Trump’s victory in the 2024 presidential election.
Live Nation`s stock (LYV) climbed as high as $127.44, rising over $10 from Tuesday’s close and nearing its all-time peak set in November 2021. T
This stock rally followed recent price target upgrades by analysts who moved LYV to a “buy” rating, citing Trump’s election as a potential shift towards reduced regulatory oversight and lighter antitrust enforcement. However, during Trump’s first term, his administration was more active in antitrust matters than many had anticipated.
Live Nation is currently facing an antitrust lawsuit brought by the U.S. Department of Justice and attorneys general from 39 states and Washington, D.C., which seeks to unwind the company`s merger with Ticketmaster.
Additionally, Live Nation has rescheduled its Q3 earnings report to Nov. 11, instead of Nov. 12. The company will release its results after the close of trading Monday, with the New York Stock Exchange remaining open despite the Veterans Day holiday.
For Q3, analysts project earnings per share for LYV at $1.58, an 11.2% decline from the same quarter in 2023, and revenues of $7.91 billion, marking a 3% year-over-year decrease.
