Sphere Entertainment Receives 'Moderate Buy' Rating from Analysts

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Sphere Entertainment Co. (NYSE:SPHR) has been assigned an average recommendation of 'Moderate Buy' from the twelve analysts covering the stock, according to Marketbeat.com. One analyst rated the stock a sell, two gave it a hold rating, and nine recommended buying it. The average 12-month price target among the analysts is $110.46.

Why it matters

Sphere Entertainment is a newly established public company focused on developing large-scale immersive entertainment venues, with its flagship project in Las Vegas. The 'Moderate Buy' rating from analysts suggests confidence in the company's growth potential as it expands its unique audiovisual experiences.

The details

Several analysts have recently commented on Sphere Entertainment's stock. New Street Research set a $110 price target, while Morgan Stanley reiterated an 'overweight' rating and $135 price objective. Craig Hallum maintained a 'buy' rating with a $100 price target, and Guggenheim raised its price target from $150 to $160 while upgrading the stock to 'buy'.

• Sphere Entertainment was established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment.

What’s next

Sphere Entertainment is expected to continue expanding its immersive entertainment offerings, with additional projects in development around the world beyond its flagship Las Vegas venue.