Morgan Stanley raised the firm’s price target on MSG Entertainment (MSGE) to $45 from $42 and keeps an Equal Weight rating on the shares. While noting that MSG Entertainment “concluded a strong first year as a standalone entity” and stating that FY24 and forward guidance support the view that demand for live events remains healthy and can grow despite a softer macro backdrop, the analyst sees a stronger risk/reward in live events through Overweight-rated Live Nation (LYV).
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