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.
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:
- John Mayer, Dead in talks for Las Vegas Sphere residency, NY Post says
- Sphere Entertainment upgraded to Buy from Neutral at Seaport Research
- Sphere Entertainment price target raised to $34 from $32 at Macquarie
- Sphere Entertainment just upgraded at Guggenheim, here’s why
- Sphere Entertainment upgraded to Buy from Neutral at Guggenheim