JP Morgan Maintains Neutral Rating for Sphere Entertainment: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
JP Morgan has maintained its Neutral rating for Sphere Entertainment (NYSE:SPHR) but raised its price target from $33.00 to $37.00. Despite this, Sphere Entertainment's shares are currently trading at $39.20, which is above the new target. Sphere Entertainment is a live entertainment and media company with a focus on creating and producing shows and events.
February 06, 2024 | 5:00 pm
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NEUTRAL IMPACT
JP Morgan maintains Neutral rating on SPHR but raises price target to $37. Shares currently exceed this target, trading at $39.20.
The adjustment in price target by JP Morgan reflects a positive outlook on Sphere Entertainment's performance, yet the Neutral rating and the fact that shares are already trading above the new target suggest a cautious stance. This could lead to a neutral short-term impact on SPHR's stock price as the market digests this information.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100