Sphere Entertainment cut to Neutral at Seaport [Seeking Alpha]
Sphere Entertainment Co. Class A (SPHR)
Company Research
Source: Seeking Alpha
The analysts said that Sphere's stock has soared about 40% year-to-date, and having surpassed Seaport's $45 price target (helped by sentiment following Chairman/CEO Jim Dolan's market purchases), they think it is time the shares take a breather, as the company is entering a period of potentially softer couple of quarters than it has just seen. Seaport noted that there are many long-term growth opportunities from layering on a franchise model internationally — however that could take three to four plus years to start monetizing — and from more-fully scheduling the Las Vegas Sphere, both with the Sphere Experience/future proprietary films, musical residencies, and corporate events. The analysts said that they will become more constructive again once there is more clarity on greater sustainable capacity utilization. Sphere Entertainment ( SPHR ) has a Hold rating at Seeking Alpha's Quant Rating system, which consistently beats the market. Meanwhile, the Seeking Alpha authors' (2 a
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News
- SPHERE ENTERTAINMENT ACQUIRES HOLOPLOT [Yahoo! Finance]Yahoo! Finance
- SPHERE ENTERTAINMENT ACQUIRES HOLOPLOTPR Newswire
- Sphere Entertainment Co. (NYSE:SPHR) Q3 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- What's next for the Las Vegas Sphere? [Yahoo! Finance]Yahoo! Finance
- The Eagles at the Sphere in Las Vegas? CEO seems to confirm rumors on earnings call [USA TODAY]USA TODAY