MSG Entertainment upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs upgraded MSG Entertainment to Buy from Neutral with a price target of $45, up from $41. The stock’s recent underperformance has created an opportunity for investors to gain exposure to a “unique, pure-play venues business with an attractive financial model,” the analyst tells investors in a research note. The firm believes believe MSG Entertainment is well positioned to exceed consensus expectations in fiscal 2025 driven by a strong event bookings environment at its arena and theaters, robust demand for the Christmas Spectacular and a reacceleration in sponsorship and premium hospitality.