Sphere Entertainment falls as BTIG cuts PT, citing softer bookings
06/10/2026 16:09
BUZZ-Sphere Entertainment falls as BTIG cuts PT, citing softer bookings ** Sphere Entertainment SPHR.N shares fall more than 6% to $104.04
** BTIG cuts PT to $160 from $190, implying a 44% upside to stock's last close
** Brokerage cut its Sphere Experience revenue forecast to $110M for 3Q from $123M and $148M for 4Q from $164M, putting it below Street estimates of $123M and $164M
** Expects fewer ticket sales and less revenue per show, based on its ticket sales analysis, slower Wizard of Oz bookings at the end of Q3 and early October booking trends
** 11 of 13 brokerages rate the stock "buy" or above, 2 "hold", median PT: $178.50 - data compiled by LSEG
** Including session's moves, stock has risen 10.50% YTD
(Reporting by Miraanta Lowrance in Bengaluru)
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