This ticket retailer could impress when it announces earnings on November 9.

More speculative is Live Nation. Its pending deal with Ticketmaster makes sense, uniting the largest ticket retailer with a big entertainment-management and concert-promotion firm. Regulators are scrutinizing it closely. Yet the stocks are depressed, summer-concert sales are brisk, concerts have good pricing power -- and the live experience isn't replicable on an iPhone.

Hold - Price 15.24 on Sept. 10
by Morgan Joseph

Live Nation, a leading promoter, producer and venue operator for worldwide live entertainment events, completed the Motor Sports Division sale to Feld Entertainment for $205 million. The Motor Sports Ebitda for 2007 was about $23 million on a standalone basis and for 2008 is projected to be approximately $25 million. The sales price was in line with our expectations at a 7 times multiple. The deal slightly raises our estimated 2009 [total enterprise value]/Ebitda multiple to 9.8 times, from 9.5 times. Live intends to reduce its term loan with the proceeds and make further investments in its core music business....which is prudent. Results will be easier to analyze without so many moving parts. Market cap: $1.2 billion.

revenues will increase once the company begins selling tickets on their site and not on Ticketmaster.

Upgraded by Matrix Research from Sell to Hold