Benchmark raised its price target on Live Nation Entertainment (NYSE: LYV) to $190 from $180 while maintaining a Buy rating, though the firm acknowledged that regulatory headwinds could delay realization until 2026.

The firm noted ongoing scrutiny from Washington regulators, with the FTC pursuing legal action over secondary market ticket premiums. Benchmark said Live Nation was advocating for a 20% cap on secondary market markups, a policy that would benefit artists and venues while reinforcing Ticketmaster's primary market dominance.

Analysts highlighted that Live Nation's strong growth profile and business-to-business focus could justify higher valuations if investors viewed the stock more in line with Nasdaq 100 companies rather than the S&P 500.