Benchmark analyst Matthew Harrigan regards yesterday’s Executive Order from the White House targeting secondary market ticket scalpers and price-gouging “largely as a positive” for Live Nation (LYV), but adds that it is “certainly not a definitive end to scrutiny” of Live Nation. The action targets the “laughably unenforced” BOTS Act for 2016 that made it illegal to use bots to acquire primary market tickets and then resell them in the secondary market at remarkable premiums and which was supported by Live Nation, notes the analyst, who maintains a Buy rating and $178 price target on Live Nation shares.
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