Peter Henderson, an analyst from Bank of America Securities, reiterated the Buy rating on Madison Square Garden Entertainment Corp. (MSGE – Research Report). The associated price target is $48.00.
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Peter Henderson has given his Buy rating due to a combination of factors that include Madison Square Garden Entertainment Corp.’s solid financial performance and optimistic future bookings. The company reported better-than-expected results in the second fiscal quarter of 2025, with revenue slightly exceeding estimates and adjusted operating income showing a notable increase.
Looking ahead, the company is setting up for a promising fiscal year 2026, with expectations of increased bookings for concerts and other live events. Discussions for securing a new residency show are underway, which could further boost performance. The ongoing demand for live entertainment and special events is anticipated to sustain growth, justifying the Buy rating and the price objective set at $48, which is based on a valuation multiple consistent with industry peers.