Live Nation Entertainment's stock surged 5.19% during intraday trading on Friday. The significant upward movement follows the company's release of its quarterly financial results, which showed stronger-than-expected performance.

The live entertainment giant reported quarterly revenue of $6.31 billion, exceeding analyst estimates of $6.10 billion and representing an 11.1% increase from the same period last year. The revenue beat was primarily driven by robust demand for concerts, indicating continued strong consumer interest in live events.

Multiple Wall Street firms responded positively to the earnings report by raising their price targets on the stock. Bernstein increased its target to $200 from $185, Morgan Stanley raised its target to $185 from $170, and JP Morgan lifted its target to $180 from $170. Several other analysts, including Oppenheimer and Roth MKM, also issued upward revisions, maintaining bullish ratings on the company's shares amid growing concert attendance.