Morgan Stanley analyst Benjamin Swinburne raised the firm’s price target on Sphere Entertainment to $30 from $26 and keeps an Equal Weight rating on the shares. The firm continues to see a wide range of outcomes given the uncertainty associated with long-term free cash flow generation for the Sphere segment and the roughly $1.5B of debt at the company including ~$900M in term loan at the MSG Networks segment, the analyst tells investors in a research note.
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