Morgan Joseph Bearish On LN

Investment banking firm Morgan Joseph has downgraded Live Nation stock to "hold" from "buy" following the release of year-end and 4Q financial reports. reports that Morgan Joseph believes "the light organic EBITDA ‘guidance,’ vague 2008 outlook, and lack of near-term catalysts creates uncertainty for Live Nation in 2008."

Live Nation reported a 2007 fourth-quarter loss of about $18.4 million, less than in previous comparable periods and despite increasing margins in core business areas.