As previously reported, Guggenheim upgraded Sphere Entertainment to Buy from Neutral with a price target of $40, up from $38. The live entertainment company confirmed on Tuesday that its Sphere segment will report positive adjusted operating income for fiscal Q2, noted Guggenheim, which expects profitability to increase throughout the course of calendar year 2024 and 2025 as Sphere “layers on” traditional sponsorship, including naming rights, and a fuller slate of evening shows and residencies.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SPHR:
- Sphere Entertainment files to sell $225M of Convertible Senior Notes due 2028
- Sphere Entertainment no longer plans to develop a Sphere in United Kingdom
- London mayor to block MSG application for London Sphere, Sky News says
- SPHERE ENTERTAINMENT CO. REPORTS FISCAL 2024 FIRST QUARTER RESULTS
- Sphere Entertainment reports Q1 cont ops EPS $1.90 vs. ($1.35) last year