UPDATE: Albert Fried Raises PT on Live Nation Entertainment on Launch of New Music Services

In a report published on Friday Albert Fried analyst Rich Tullo raised the price target on Live Nation Entertainment (NYSE: LYV) from $14 to $18 and maintained an Overweight rating on the company.

In the report, Albert Fried commented that, "We think the launch of new music services could be a catalyst for artists to go on tour. Spotify, GOOGLE, Pandora, iHeart, and now Apple are operating music services. We expects Artists to capitalize on the Streaming wars. Artists now have multiple opportunities to monetize their content and we think LYV is the central middleman in the artists last window of monetization."

Live Nation Entertainment closed on Thursday at $15.56