Susquehanna raised the firm’s price target on MSG Entertainment (MSGE) to $61 from $51 and keeps a Positive rating on the shares. The firm updated its model to project consolidated revenue/EBITDA/FCF of $449m/$183m/$155m which is lower than previous estimates. The changes are due to a combination of event mix, lower per/show economics at the Garden, and Christmas Spectacular (CS) revenue contribution of $180m which is +12% year-over-year.
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