Live Nation Gains As Events Return; Goldman Calls It a Buy By Investing.com

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© Reuters.

By Dhirendra Tripathi

Investing.com – Live Nation (NYSE:) stock rose more than 1% in Friday’s trade as the concert operator announced Grammy winner John Mayer’s Sob Rock Tour 2022.

The tour kicks off February 17 next year from Albany, New York, and will run through April 28 in Chicago, Illinois.

Tickets go on sale starting Friday, July 23.

Live Nation will benefit from a surge in events activity, according to Goldman Sachs (NYSE:), which initiated coverage on the stock with a buy rating and a price target of $110. The analyst sees attendance growth of 28% and ticket sales growth of 18%, according to StreetInsider.

Sob Rock is the eighth studio album from Grammy-winning Mayer, who is also a celebrated songwriter, guitarist, and producer all at once. It also marks Mayer’s first solo offering since 2017’s The Search for Everything.

On Thursday, Live Nation announced a two-month-long tour of the U.S. by Chilean artist Mon Laferte.

The launch of tours by various artists in the coming months is a sign of life returning to normalcy even as parts of the world still grapple with the pandemic.

 

 

 

 

 

 

 

 

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