Sphere Entertainment's Financial Outlook Remains Strong Despite Stock Dip, Analyst Says

J.P. Morgan analyst David Karnovsky reiterated an Overweight rating on the shares of Sphere Entertainment Co SPHR and lowered the price target from $57.00 to$54.00.The analyst has revised the estimates for SPHR following their fourth-quarter earnings report.The Sphere segment’s AOI came in at -$1 million (or +$4 million excluding management transition costs), which was better than the analyst’s forecast of -$10 million, primarily due to stronger contributions from residencies.During the call, management ex ...