Morgan Stanley Maintains Equal-Weight Rating for Sphere Entertainment: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley maintains its Equal-Weight rating for Sphere Entertainment (NYSE:SPHR) and lowers its price target from $70.00 to $26.00. Shares of SPHR are trading down 6.43% at $23.27 per share.

May 26, 2023 | 5:00 pm
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Morgan Stanley maintains Equal-Weight rating for Sphere Entertainment (NYSE:SPHR) and lowers price target from $70.00 to $26.00. Shares are trading down 6.43% at $23.27.
Morgan Stanley's decision to maintain its Equal-Weight rating for Sphere Entertainment indicates that they believe the stock is fairly valued. However, they have lowered their price target from $70.00 to $26.00, which could signal a more cautious outlook on the company's future performance. The stock is currently trading down 6.43% at $23.27, which may be a reaction to the lowered price target. In the short term, the impact on the stock price is neutral as the Equal-Weight rating is maintained, but the lowered price target may cause some uncertainty among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100