Oppenheimer Just Cut Its Price Target on Live Nation (LYV) Stock

Group 1 - Live Nation Entertainment's stock price target was reduced from $120 to $110 by Oppenheimer analyst Jed Kelly, indicating a potential upside of 17.7% from its previous closing price, but below the analysts' consensus of $116.42 [1][2] - Despite the price target cut, the analyst maintains an "Outperform" rating for Live Nation's shares, with a consensus rating of "buy" based on 13 opinions [2] - The analyst's note suggests that the DOJ lawsuit is unlikely to lower concert ticket prices, focusing on specific business practices rather than monopolistic actions, with an uncertain resolution timeline of 12-18 months [3] Group 2 - As of Friday morning, Live Nation's stock is up 2% and has increased by 3.8% year-to-date [3]