Seaport Research upgraded Sphere Entertainment to Buy from Neutral with a $38 price target. The firm would take advantage of the Sphere’s convertible offering pressure on shares and is increasing its Q2 estimates given the disclosures that the U2 event were generating $0.5M more revenue per show than expected. Also, the Sphere Experience film Postcard from Earth generated an average $99/ticket, above the firm’s estimate, added the analyst.
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