Music Stocks Are Skyrocketing Past Analyst Exceptions

Music stocks are rising again: Spotify has tripled in value since mid-March, iHeartMedia is on the rebound, and even Live Nation is close to its 2020 peak. Some equity analysts think it’s time to stop the music, though.
As compared with an average of analyst price targets, four out of seven key music stocks — Spotify, Live Nation, iHeart and Tencent Music Entertainment — have more downside than upside. (The graph below lists the closing price of a stock on Dec. 14 and an averag