MSG Entertainment price target lowered to $44 from $45 at Morgan Stanley

Morgan Stanley analyst Cameron Mansson-Perrone lowered the firm’s price target on MSG Entertainment (MSGE) to $44 from $45 and keeps an Equal Weight rating on the shares. Consumer health remains “solid” and shares should benefit if the second half concert calendar firms up, but the firm is lowering estimates after MSGE lowered FY25 guidance, citing slower concert bookings and incremental expense associated with bringing sponsorship sales back in-house.