10:09 AM EDT, 05/24/2024 (MT Newswires) -- Live Nation Entertainment ( LYV ) faces a "heightened" risk of a potential Ticketmaster break-up due to the Department of Justice lawsuit, Oppenheimer said Friday in a note.

The lawsuit "will not lower concert ticket prices for consumers" as most of the complaints focus on specific business practices instead of monopolistic actions, Oppenheimer said.

The timing of the resolution remains uncertain, possibly 12 to 18 months, Oppenheimer said. The 2024 election year adds another layer of complexity to the lawsuit, it added.

Oppenheimer maintained its adjusted operating income forecasts for Live Nation and said that, despite the ongoing legal proceedings, the company's shares can still perform well, although at a "lower multiple."

Oppenheimer cut its price target on Live Nation's stock to $110 from $120 and maintained an outperform rating.

Shares of Live Nation were 1% higher in early Friday trading.

Price: 94.63, Change: +1.15, Percent Change: +1.23