BTIG analyst Tyler DiMatteo has maintained their neutral stance on SPHR stock, giving a Hold rating on November 26.
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Tyler DiMatteo’s rating is based on the strong performance of Sphere Entertainment’s Wizard of Oz show, which has demonstrated impressive ticket sales and revenue generation. The show has sold over 1.5 million tickets, generating close to $200 million in revenue, with ticket prices averaging above expectations. This momentum is expected to continue into the holiday season and potentially into 2026, providing a solid foundation for future financial performance.
However, despite the current success, there are concerns about the sustainability of this demand over time as the content remains available. Additionally, the valuation of Sphere Entertainment is considered neutral, with a projected bull/bear range of $47-$91 based on EV/EBITDA metrics. These factors combined lead to a Hold rating, as the long-term demand and valuation uncertainties balance out the current positive performance.
DiMatteo covers the Communication Services sector, focusing on stocks such as TKO Group Holdings, Sphere Entertainment, and Madison Square Garden Sports. According to TipRanks, DiMatteo has an average return of -7.1% and a 25.00% success rate on recommended stocks.
In another report released on November 26, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $88.00 price target.