Live Nation price target raised to $168 from $160 at Wolfe Research

Wolfe Research raised the firm’s price target on Live Nation (LYV) to $168 from $160 and keeps an Outperform rating on the shares. The firm tells investors to not forget about Ticketmaster. The most valuable component of Live Nation could be wroth up to $145 per share on its own, the analyst tells investors in a research note. Wolfe believes live entertainment supply and demand “are enjoying a virtuous cycle driven by artist economics, streaming, and social media.” Live Nation’s management team and global portfolio of ticketing, promotion capability, venues and sponsorship sales position the company for years of double-digit profit growth, contends the firm.