Music Stocks Are Skyrocketing Past Analyst Exceptions

Music stocks are rising again: Spotify has tripled in value since mid-March, iHeartMedia is on the rebound, and even Live Nation is close to its 2020 peak. Some equity analysts think it’s time to stop the music, though.

As compared with an average of analyst price targets, four out of seven key music stocks — Spotify, Live Nation, iHeart and Tencent Music Entertainment — have more downside than upside. In the case of Spotify, which is up 26.2% since June to $325.83 on Dec. 14, investors have been buying based on any news that suggests the company has a competitive advantage or improved margins. But 30 analysts who cover the stock gave it a combined average target of $232.63.Live Nation shares closed at $70.

Analysts don’t, however, think all music stocks are overvalued: Their average price targets for Warner Music Group, Madison Square Garden Entertainment and SiriusXM suggest significant upsides.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Warner Music Makes a Play for India’s Regional Music MarketWarner Music announced an exclusive deal with Sky Digital India to distribute Sky Digital’s repertoire within the country and throughout the world. ONE LOVE
แหล่ง: billboard - 🏆 112. / 63 อ่านเพิ่มเติม »

WSJ News Exclusive | Warner Music, Prince Al-Waleed Near Deal Over Saudi Tycoon’s Music CompanyThe deal would value Prince al-Waleed bin Talal’s Rotana Music at close to $200 million, according to people familiar with the matter, and would pair one of the West’s biggest music forces with one of the Mideast’s, at a time when recorded music sales are booming. Commercial music is worthless. Money is the hardest of drugs, you always need more, it rapidly makes of all of us prostitutes, criminals and zombies. Only atonal music is relevant for our time. Oh great, shitty movies and now they want to own shitty music.
แหล่ง: WSJ - 🏆 98. / 63 อ่านเพิ่มเติม »