As previously reported, BofA analyst Peter Henderson initiated coverage of MSG Entertainment with a Buy rating and $41 price target. Following the spinoff from Sphere, the firm views the owner of Madison Square Garden and The Chicago Theatre as a “growth-oriented, pure-play live entertainment company” set to benefit from the boom in live music and entertainment events, the analyst tells investors. The firm forecasts mid-teens percentage free cash flow compound annual growth from FY24-FY26, the analyst noted.
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