Benchmark analyst Mike Hickey raised the firm’s price target on Sphere Entertainment (SPHR) to $45 from $35 and keeps a Sell rating on the shares. While the Sphere segment continued to perform well, driven by The Wizard of Oz at Sphere, MSG Networks again contracted, the analyst noted. The firm remains negative on the stock, citing “limited creative depth,” rising concentration risk, high capital intensity, and the “implausibility of replicating Las Vegas economics elsewhere,” the analyst added.
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>>
Read More on SPHR:
- Sphere Entertainment price target raised to $79 from $69 at Goldman Sachs
- Sphere Entertainment price target raised to $80 from $68 at JPMorgan
- Sphere Entertainment: Balancing Strong Earnings with Strategic Challenges and Opportunities
- Sphere Entertainment reports Q3 EPS ($2.80) vs. ($2.95) last year
- Sphere Entertainment price target raised to $65 from $40 at Morgan Stanley