Sphere Entertainment initiated with a Positive at Susquehanna

Susquehanna initiated coverage of Sphere Entertainment (SPHR) with a Positive rating and $37 price target The ongoing ramp of Sphere in Las Vegas is “promising and expectations are low,” the analyst tells investors in a research note. Further, the firm believes las week’s announcement of a debt restructuring for MSG Networks removes the previous financial risk associated with a potential bankruptcy that could have threatened Sphere’s financial flexibility.