JPMorgan raised the firm’s price target on Sphere Entertainment (SPHR) to $91 from $80 and keeps an Overweight rating on the shares. The firm cites the company having disclosed that as of December 1, over 1.5M tickets sold and nearly $200M in revenue were booked for Wizard of Oz, which opened on Aug 28 in Las Vegas, while the previous benchmarks were ‘on-track’ for 1.2M tickets as of 11/5 and over 1M as of 10/17, indicating the pace of sales has accelerated, the analyst tells investors in a research note.
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