Live Nation price target lowered to $165 from $175 at Wolfe Research

Wolfe Research analyst Peter Supino lowered the firm’s price target on Live Nation (LYV) to $165 from $175 and keeps an Outperform rating on the shares. The firm says the Senate hearing of Federal Trade Commissioner nominee, Mark Meador, “should dampen hopes” for near-term Department of Justice relief. Wolfe nudged upward its break-up probability for Live Nation to 25% from 20%. The Justice Department, along with 30 state and district attorneys general, filed a civil antitrust lawsuit against the company and its subsidiary Ticketmaster in 2024 for “monopolization and other unlawful conduct that thwarts competition in markets across the live entertainment industry.”