Cash Out Of Sphere Entertainment, Profitability Outlook ‘Underwhelming,’ Says Bearish Analyst
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Sphere Entertainment Co (NYSE:SPHR), the company behind the Las Vegas Sphere, has high production costs and scalability issues.
Despite the company’s penchant for novelty events, like last month’s “Wizard of Oz” screening, the profitability outlook is “underwhelming,” according to Benchmark analyst Mike Hickey.
Hickey downgraded the rating for Sphere to Sell, while setting the price target to $40.
The Sphere Entertainment Thesis: Creating content for Las Vegas Sphere is …
Full story available on Benzinga.com
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