Live Nation "buy"

02/28/07 - Morgan Joseph & Co

NEW YORK, February 28 (newratings.com) - Analysts at Morgan Joseph reiterate their "buy" rating on Live Nation Inc (LYV). The target price is set to $25.

In a research note published this morning, the analysts mention that the company is likely to report its 4Q06 revenues and EBITDA at $732.1 million and $1.6 million, respectively. Live Nation acquired Gamerco, the biggest Spanish concert promoter, and a majority stake in French promoter Jackie Lombard Productions during the quarter, the analysts say. These acquisitions would help in the diversification of the company’s business and revenues internationally, Morgan Joseph adds.