Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - Benchmark has maintained its Buy rating and $190.00 price target on Live Nation Entertainment (NYSE:LYV) ahead of the company’s third-quarter 2025 earnings release scheduled for Tuesday. This target represents a 26% upside from the current price of $150.98. According to InvestingPro data, analyst consensus remains bullish with price targets ranging from $130 to $190, while the company appears slightly undervalued based on Fair Value estimates.
The firm made only slight estimate adjustments from its September 26, 2025 research report, while accounting for Live Nation’s new $1.3 billion convertible note issuance from October. The 2.875% notes mature in 2031 with a conversion price of $224.93. This debt management aligns with InvestingPro analysis showing Live Nation operates with a moderate debt level of $8.42 billion and maintains a "GOOD" overall financial health score.
Benchmark noted that the conversion price approximately aligns with its 2028 fair stock value projection for Live Nation. The firm indicated that this convertible issuance does not affect its price target within the current forecast timeframe.
The proceeds from the convertible note offering will primarily be used for debt retirement, specifically to pay down the 5.625% Senior Notes due in 2026 and Term loan B, which total $1.123 billion. The remaining funds will be allocated for general corporate purposes.
Live Nation’s third-quarter 2025 financial results are expected to be released after market close on Tuesday.
In other recent news, Live Nation Entertainment has entered into a new $3.7 billion credit agreement with JPMorgan Chase Bank and other lenders. This agreement includes a $1.3 billion multicurrency revolving credit facility and a $1.3 billion term loan B facility, which was fully drawn at closing to refinance existing obligations. Additionally, Live Nation has priced its $1.3 billion convertible senior notes due 2031 at a 2.875% interest rate, with a conversion price significantly higher than the recent stock closing price. The proceeds from this offering will be used to redeem its 5.625% Senior Notes due 2026 and for general corporate purposes.
Benchmark has raised its price target for Live Nation to $190, maintaining a Buy rating, despite the company facing regulatory scrutiny. The Federal Trade Commission, along with seven states, has filed a lawsuit against Live Nation and its subsidiary Ticketmaster over alleged deceptive ticket resale practices. The lawsuit claims that the company coordinated with brokers to resell tickets at higher prices, impacting consumers. These developments reflect ongoing financial and regulatory challenges for the company.
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