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Jan. 24 (Bloomberg) -- T4F Entretenimento SA, the Brazilian live-entertainment company whose name stands for Time For Fun, headed for a one-month high after Banco BTG Pactual SA reiterated its “buy” recommendation and said concerts by Lady Gaga and Madonna are boosting the outlook for revenue.
Shares gained 0.5 percent to 12.80 reais at 12:53 p.m in Sao Paulo, poised for the highest closing price since Dec. 26. The benchmark Bovespa index fell 0.9 percent.
“Both Madonna and Lady Gaga have confirmed plans to perform in the region in 2012 -- both are Live Nation artists and thus can only tour in the region with T4F,” analysts from Banco BTG Pactual SA including Carlos Sequeira said in a note to clients today in which they reiterated a 12-month price target for the shares of 23 reais.
T4F booked former Pink Floyd singer Roger Waters’s concerts and Cirque du Soleil’s Varekai shows this year in Brazil, according to a presentation on Nov. 8. The company plans to sustain growth by arranging concerts for international and local artists, promoting theater plays, artistic performances and sports events such as a stock-car race, according to the presentation. T4F posted an 85 percent increase in tickets sold for live music events in the third quarter of 2011 from a year earlier, it said in the presentation.
“We see a great buying opportunity ahead of what seems to be a very strong year,” the BTG analysts said.
--Editors: Brendan Walsh, Richard Richtmyer
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