Guggenheim raised the firm’s price target on Sphere Entertainment (SPHR) to $74 from $69 and keeps a Buy rating on the shares. Q1 outperformance was driven by Concert revenue and lower operating costs, notes the analyst, who expects financial results will continue to ramp on show/residency scale, higher venue utilization across show types, cost discipline and advertising/sponsorship/suite revenue.
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Read More on SPHR:
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