In a new report, Albert Fried & Co analyst Rich Tullo explained why the firm has upgraded Live Nation. Summer concert season has come and gone, but Tullo sees secular growth catalysts for the company.

Investment Thesis

The general investment thesis for Live Nation is that the music industry will turn to concert ticket sales to try to recover lost income from music piracy. “We also argue the live events LYV produces and tickets are defensible in a media eco-system [sic] transitioning from traditional to digital distribution,” Tullo added.

Auto Correlation

Tullo pointed out…

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