Deutsche Bank remains bullish on Live Nation Entertainment. The bank maintained a buy rating on the entertainment stock. The company also lowered its price target from $173 to $160 per share, which still suggests around 23% upside potential. Live Nation’s stock price is up less than 1% this year. Analyst Benjamin Soff wrote that the stock is down 25% from its September high of the year, opening up an attractive entry point for investors. LYV YTD Mountain LYV YTD Chart “We believe this decline in LYV is overdone. Live Nation currently trades at 15.4x updated 2026 AOI estimates, which is (in our view) cheap compared to the sustainable double-digit AOI growth that we believe the business can achieve in the foreseeable future,” he wrote. The analyst remained positive about the outlook for Live Nation’s concert business next year, saying it expects positive growth across a variety of regions and venues. Increased penetration in international markets supports Live Nation’s multi-year goal of increasing total fan count from 200 million to 225 million. Soff also sees growing opportunities from new venue construction, which could be a key driver of concert margin growth and adjusted operating income. “Multi-year opportunities remain healthy and continue to grow,” he said. “For context, Live Nation’s pipeline of 48 large-scale venue construction is expected to add 22 million new fans by 2029 and 29 million new fans by 2031. It was expected that 10,000 run-rate fans would be added).
