Sphere Entertainment upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Sphere Entertainment (SPHR) to Overweight from Equal Weight with a price target of $105, up from $75. Experiential assets, especially those that tap into fandom, should benefit from AI disruption as consumers seek out more communal, real life experiences, the analyst contends. Fandom, community and celebrity are “secular tailwinds” to assets like the Sphere, the analyst tells investors.