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Morgan Joseph Bullish On Live Nation – Initiated With 'Buy'

NEW YORK (CelebrityAccess MediaWire) — Analysts at Morgan Joseph initiate coverage of Live Nation Inc (ticker: LYV) with a "buy" rating. The target price is set to $25.

In a research note published yesterday, the analysts mention that the takeover of House of Blues Entertainment is expected to bolster the company’s market position going forward. The analysts believe that the renegotiation of legacy contracts would substantially improve Live Nation’s financials. The company is likely to generate additional revenue lines and extend its brand going ahead through its plan to wire its venues, Morgan Joseph says.