Goldman Sachs lowered the firm’s price target on Live Nation (LYV) to $155 from $170. The firm believes Q1 results in May will feature in-line to better than expected attendance, revenue and adjusted operating income, despite foreign exchange headwinds, the analyst tells investors in a preview for the live entertainment group. Looking ahead, the firm moderately lowered its outlook for revenue and AOI in 2025-plus to reflect risk of a global recession, but remains about 3% above consensus on the belief that live events will remain “a relatively durable form of consumer discretionary spending,” the analyst added.
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