BTIG raised the firm’s price target on Sphere Entertainment (SPHR) to $127 from $110 and keeps a Buy rating on the shares. The company reported an excellent quarter as The Wizard of Oz exceeds pricing assumptions pointing to investors underwriting higher expectations and financial contribution, the analyst tells investors in a research note. This quarter only solidified the firm’s thesis that the core product offering is performing extremely well with consumer demand driving real pricing upside, BTIG added.
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Read More on SPHR:
- Sphere Entertainment: Sustained Momentum, Expanding Growth Pipeline, and Higher Valuation Support a Buy Rating
- Sphere Entertainment price target raised to $128 from $110 at JPMorgan
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