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Wednesday, October 2, 2019

LIVE NATION GLOWING ON WALL STREET

Brokerages are strongly recommending that investors buy Live Nation stock, the latest being Jefferies which has given the stock an $84 price target. The recommendation coincides with Live Nation announcing that it intends to offer $950m in senior notes due in 2027.

The company intends to use the net proceeds from this offering, together with borrowings under its new senior secured credit facility, to redeem all of its existing 5.375% senior notes due 2022, and repay in full its existing loans from the senior secured credit facility.

Live Nation is already up 34.5% this year. The stock opened this morning at $66.47, having peaked in late July at $73.72. Currently, nine of the 14 covering brokerages have made "strong buy" recommendations.

LIVE NATION POSTS BEST Q2 EVER
LIVE NATION POSTS BEST QUARTER EVER
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