Madison Square Garden Has Room For 'Robust Growth' Thanks To Concert Lineup, Christmas Spectacular: Analyst
Portfolio Pulse from Priya Nigam
Madison Square Garden Entertainment Corp (NYSE:MSGE) has been upgraded by Goldman Sachs' analyst Stephen Laszczyk from Neutral to Buy, with a price target increase from $41 to $45. The company is expected to outperform fiscal 2025 consensus expectations due to a strong event bookings environment and robust growth in Christmas Spectacular revenues.
July 24, 2024 | 3:29 pm
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Goldman Sachs' analyst Stephen Laszczyk upgraded Madison Square Garden Entertainment Corp (NYSE:MSGE) from Neutral to Buy, raising the price target from $41 to $45. The company is expected to exceed fiscal 2025 revenue, adjusted operating income, and free cash flow expectations due to a strong event bookings environment and robust growth in Christmas Spectacular revenues.
The upgrade from Neutral to Buy and the increase in price target from $41 to $45 by Goldman Sachs is a strong positive signal for MSGE. The analyst's expectations of exceeding fiscal 2025 revenue, adjusted operating income, and free cash flow consensus, driven by a strong event bookings environment and robust growth in Christmas Spectacular revenues, are likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100