Benchmark initiated coverage of Sphere Entertainment with a Hold rating and no price target. Sphere operates the “radically innovative” Sphere live entertainment venue in Las Vegas and the “less desirable” MSG Network asset and related current debt liability, the analyst tells investors. While Sphere Entertainment’s innovative Sphere segment represents “a transformative shift in the traditional entertainment venue model,” the Sphere segment is still in its early stages and has not yet realized its full potential, the analyst added.
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Read More on SPHR:
- Sphere Entertainment price target raised to $45 from $42 at Morgan Stanley
- Sphere Entertainment Secures CEO Dolan Until 2027
- Sphere Entertainment price target lowered to $43 from $48 at Guggenheim
- Steve Cohen’s Point72 Picks Up Stake in Sphere Entertainment
- Sphere Entertainment up 5% after Cohen discloses 5.5% stake
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