Sphere Entertainment price target lowered to $45 from $47 at Macquarie

Macquarie analyst Paul Golding lowered the firm’s price target on Sphere Entertainment (SPHR) to $45 from $47 and keeps a Neutral rating on the shares. The company reported “mixed” Q1 results with its return profile and operations still solidifying post the spin-out, the analyst tells investors in a research note. The firm says Sphere’s outlook remains underpinned by the Eagles and global venue rollout. Further color on the recently announced Abu Dhabi deal was limited, it added.