Madison Square Garden Analyst Predicts 30% Upside To Stock, Healthy Capital Returns
Portfolio Pulse from Priya Nigam
Madison Square Garden Entertainment Corp (MSGE) reported upbeat earnings but disappointing sales for its fiscal fourth quarter. BofA Securities analyst Peter Henderson initiated coverage of MSGE with a Buy rating and a price target of $41, predicting a 30% upside to the stock. Henderson believes MSGE can achieve its goals of improving venue utilization, driving more premium hospitality, and increasing sponsorship by monetizing new verticals including insurance.
August 22, 2023 | 3:26 pm
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NEUTRAL IMPACT
Following the spinoff from Sphere Entertainment Co (SPHR), Madison Square Garden Entertainment Corp (MSGE) now presents an attractive opportunity to own a growth-oriented, pure-play live entertainment company, according to BofA Securities analyst Peter Henderson.
The spinoff of MSGE from Sphere Entertainment Co (SPHR) is mentioned in a positive light by the analyst, indicating potential growth for MSGE. However, the direct impact on SPHR is not clear from the news.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Madison Square Garden Entertainment Corp (MSGE) has been given a Buy rating and a price target of $41 by BofA Securities analyst Peter Henderson, indicating a potential 30% upside. The company's strong free cash flows could lead to healthy capital returns or de-levering in the future.
The Buy rating and price target of $41 by BofA Securities analyst Peter Henderson indicates a positive outlook for MSGE. The company's strong free cash flows and potential for growth in the live entertainment segment could lead to a rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100