Benzinga | Jul 16, 2021 07:11AM EDT

Goldman Sachs Initiates Coverage On Live Nation Entertainment, Sees 37% Upside

* Goldman Sachs analyst Stephen Laszczyk initiated coverage of Live Nation Entertainment Inc (NYSE:LYV) with a Buy rating and $110 price target, implying a 37.2% upside.

* Live Nation seems well-positioned for an expected surge in concert activity following the pandemic in the near term, Laszczyk stated.

* He sees strong secular growth in the global live events industry in the long term.

* Laszczyk also estimates ample opportunity for Live Nation to gain market share in promotions and ticketing through organic expansion and M & M&A.

* Price action: LYV shares traded higher by 1.24% at $80.92 in the premarket session on the last check Friday.