Recently, shares of Live Nation Entertainment Inc (Symbol: LYV) have exceeded the average analyst 12-month target price of $127.50, currently priced at $129.67 per share. When a stock moves above its target, analysts typically respond in one of two ways: either they downgrade their rating based on valuation, or they increase their target price. Analysts’ reactions may also be influenced by the company’s fundamentals, suggesting that if prospects are improving, a raise in target price could be warranted.
Expert Opinions Revealed
Within the Zacks coverage universe, there are 18 analysts contributing to the average for Live Nation. However, this average reflects a range of opinions. For instance, one analyst is projecting a price of $108.00, while another anticipates a high of $140.00. The standard deviation among these targets stands at $8.262.
The significance of considering the average target price lies in gathering collective insights from a diverse group of analysts, rather than relying on a singular viewpoint. With LYV surpassing the average target price of $127.50 per share, investors are prompted to reassess the company’s position. Is this target merely a stepping stone towards even higher valuation, or has the stock become overpriced, suggesting a need to consider selling off some holdings? Below is a table summarizing current analyst outlooks for Live Nation Entertainment Inc:
| Recent LYV Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 17 | 17 | 17 | 16 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 1 | 1 | 1 | 1 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.13 | 1.13 | 1.13 | 1.14 |
The average rating in the final row indicates a scale from 1 to 5, with 1 being a Strong Buy and 5 being a Strong Sell. Data for this analysis was provided by Zacks Investment Research via Quandl.com.
Check Out the Top 25 Broker Analyst Picks of the S&P 500 »
Additional Information:
• Mondelez International RSI
• BLSP Options Chain
• GLOB Price Target
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
