MSG Entertainment price target raised to $60 from $53 at Goldman Sachs

Goldman Sachs analyst Stephen Laszczyk raised the firm’s price target on MSG Entertainment (MSGE) to $60 from $53 and keeps a Buy rating on the shares amid strong Christmas Spectacular demand, a new long-term PwC sponsorship, greater visibility into future Garden event bookings, and potential asset monetization tied to the Penn Station redevelopment. The market is under-appreciating the opportunity for MSG Entertainment to execute against two consecutive years of double-digit AOI growth driven by strong event bookings activity, the analyst tells investors in a research note.