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(This is CNBC Pro’s live coverage of Thursday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Analysts cheered a concert stock and a tech giant on Thursday. Morgan Stanley raised its rating on Live Nation, noting the stock is poised to do well in the long haul. Bank of America also hiked its price target on Microsoft , citing meetings with company executives earlier this week. Check out the latest calls and chatter below. 5:35 a.m. ET: Morgan Stanley upgrades Live Nation as concert company taps into global music opportunities Odds are in Live Nation Entertainment’s favor for the long term, according to Morgan Stanley. The bank upgraded shares of the entertainment company to overweight from equal weight and lifted its price target to $110 from $100. This implies a 25% upside from Wednesday closing price. Analyst Cameron Mansson-Perrone cited a higher earnings outlook as one catalyst. “LYV has generally seen a significant upward revision in earnings while shares have continued to lag, creating the opportunity in our view to get more bullish here,” he wrote. He’s also optimistic about the company’s prospects in the long run, due to an excellent business model. He believes that it’s possible for Live Nation to generate double-digit earnings growth in the next few years as the company both taps into global markets and expands its venue portfolio. “We have increased conviction in durable long-term growth given Live Nation’s unique ability to capture the expanding global live music opportunity,” Mansson-Perrone said. Live Nation shares have been on a tear this year, surging more than 26%, as consumers attend more concerts in 2023. Taylor Swift’s Eras Tour became the first to rake in $1 billion in ticket sales. LYV YTD mountain LYV in 2023 — Lisa Kailai Han 5:35 a.m. ET: Bank of America raises Microsoft price target Microsoft has soared more than 56% this year on excitement around artificial intelligence. Bank of America sees the stock going even higher over the next year. Analyst Brad Sills raised his price target on shares to $430 from $415. The new forecast implies upside of nearly 15% from Wednesday’s close. Sills said he’s more confident in the tech giant after meeting with company executives earlier this week. “We come away from the meetings with higher conviction on the durability of growth in the core Office and Azure growth franchises,” he said in a note. “We believe that there is potential for commercial office to accelerate from the current mid-teens growth level in the coming quarters from the gradual contribution from the new M365 copilot.” MSFT YTD mountain MSFT year to date — Fred Imbert
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