MSG Entertainment price target raised to $43 from $41 at BofA

BofA raised the firm’s price target on MSG Entertainment to $43 from $41 and keeps a Buy rating on the shares. The firm, which anticipates healthy fiscal Q3 results supported by strong demand for live experiences, now estimates total Q3 revenue of $229M, including about $193M in revenue from customers and $36M in Arena License Agreement revenue. Beyond earnings, updates may be possible related to early indications into concert and event bookings for FY25 as well as the benefit from the Knicks and Rangers playoff runs and what is contemplated in guidance, the analyst tells investors in a preview.