Shares of Live Nation
Inc. rose Friday to after Credit Suisse started coverage of the stock with an "overweight" rating and a $28 price target. Analyst William Drewry said asset sales and new contracts are likely to boost profit margins and "could move the stock significantly higher during the next 12-18 months." Live Nation, the largest operator of concert venues and live events in the U.S., was spun off from radio station owner Clear Channel Communications last year. Drewry said the company is "evolving into a one-stop shop for musicians, live entertainers and concert audiences" and that the sale of some underperforming properties might be in store.