Live Nation (NYSE:LYV) shares jump after antitrust lawsuit date revealed

LiveNation Shares (NYSE:LYV) are up more than 3% at the time of this writing on news that the U.S. Department of Justice’s antitrust lawsuit against the company won’t go to trial until 2026. U.S. District Judge Arun Subramanian called the timeline “appropriate” during an initial hearing in New York, according to The New York Times. Reuter. Stocks may also benefit from increased odds of Donald Trump winning after Thursday night’s presidential debate.

The Department of Justice and more than two dozen states recently filed an antitrust lawsuit against Live Nation, seeking to take down the company. Investors may view a potential Trump presidency as more supportive of antitrust issues than a more stringent Biden administration.

Investor attitude towards LYV shares

Sentiment among TipRanks investors is currently very negative, as Live Nation shares are down approximately 10% over the last three months. Of the 742,848 portfolios tracked by TipRanks, 0.1% hold LYV stock. Additionally, the average portfolio weight assigned to LYV among those who hold a position is 2.66%. This suggests that the company’s investors are not very confident about its future.

Additionally, 7.4% of stock holders reduced their positions in the last 30 days. As a result, the stock’s sentiment is below the sector average, as shown in the image below:

Is it worth buying Live Nation Entertainment shares?

Coming back to Wall Street, LYV stock has a consensus rating of Strong Buy based on 16 Buys, one Hold, and zero Sell. The average price target for LYV stock is $118.71, implying a 33.7% upside potential.