Keeping a Buy rating and a price target of $174 on Live Nation (LYV), Roth Capital says the firm believes demand for live entertainment remains robust despite a challenging domestic consumer environment. The year is starting off a bit slower than anticipated, although Roth attributes this result more to seasonality than any fundamental change. Paced by a sizable influx of stadium concerts, growth should materially increase in Q2/Q3, keeping the company on a multi-year double-digit AOI growth path, the firm adds. Roth is lowering its Live Nation’s revenue and AOI estimates, with both its revenue and AOI projections below the Street.
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