Sphere Entertainment price target lowered to $43 from $48 at Guggenheim

Guggenheim lowered the firm’s price target on Sphere Entertainment to $43 from $48 and keeps a Buy rating on the shares. The firm updated its Q4 outlook for the Sphere segment to reflect a more conservative outlook for The Sphere Experience, the analyst tells investors in a research note. Guggenheim continues to expect financial results in FY25 and FY26 will continue to ramp on show/residency scale, higher venue utilization across show types, and advertising/sponsorship/ suite revenue.