Goldman Sachs analyst Stephen Laszczyk lowered the firm’s price target on Sphere Entertainment (SPHR) to $36 from $42 and keeps a Buy rating on the shares. The firm believes Q1 results due on May 9 will feature in-line to slightly better results on Sphere segment revenues and adjusted operating income, the analyst tells investors in a preview for the live entertainment group. The earnings call is also likely to include updates from management on the two new Sphere Experience shows, the expected residency show count for 2025 and shifting trends in Las Vegas tourism, says the analyst, who notes that the firm’s lower price target reflects a new demand outlook as well as lower market and comparable company multiples.

Stay Ahead of the Market:

Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using  Tipranks' Stock Screener.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on SPHR:

Disclaimer & DisclosureReport an Issue

Sphere Entertainment price target lowered to $32 from $45 at Morgan Stanley Cautious Outlook on Sphere Entertainment: Hold Rating Amid Modest Financial Performance and Adjusted Price Target Sphere Entertainment Director Carl E. Vogel to Step Down Optimistic Growth Prospects for Sphere Entertainment Amidst Market Underestimation Sphere Entertainment initiated with a Buy at Goldman Sachs

View Comments