Seaport Research raised the firm’s price target on Sphere Entertainment to $52 from $48 and keeps a Buy rating on the shares. The company’s new content announcement will replace some of the original Sphere Experience shows at least through October, though these original shows have been reduced since August, the analyst tells investors. The firm reminds investors the company is still in the early innings of building out its Exosphere advertising business and, while there are no Sphere franchise / joint venture announcements yet, these should provide future financial upside.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPHR:
- ESPN goes dark on DirecTV, Harris to oppose Nippon-U.S. Steel deal: Morning Buzz
- Sphere cut to Sell at Benchmark on scalability, profitability concerns
- Sphere Entertainment downgraded to Sell from Hold at Benchmark
- Sphere Entertainment Renews CEO’s Contract with Enhanced Terms
- Sphere Entertainment Revamps Employee Stock Plan Terms