Live Nation Entertainment (LYV) is expected to reiterate its positive outlook for this year, Oppenheimer said Monday in an earnings preview.
Earnings reports from other companies suggest that US consumer spending continues to be healthy, the report said.
Oppenheimer cut its Q2 revenue estimates concerts by 1% and sponsorship segments by 4% after the cancellation of the Bonnaroo festival that involved about 85,000 tickets.
"We remain constructive into Q3 on a high stadium mix combined with Venue Nation contributing a larger mix of high margin incremental revenue," the report said.
Q2 results are expected Thursday.
Oppenheimer maintained its outperform rating on Live Nation stock with a $165 price target.
Live Nation shares rose 2% in recent Monday trading.
Price: 149.02, Change: +2.88, Percent Change: +1.97
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