Sphere Entertainment Sinks 12% on Analyst Downgrade: Demand “Softening Faster Than Expected” - Yahoo Finance

Points clés:Craig-Hallum downgraded Sphere Entertainment to Hold and cut its price target to $132 from $170. Sphere said “Wizard of Oz” has generated over $500 million in ticket sales. Sphere Entertainment’s Q2 revenue rose 11% to $313.6 million, but losses widened. Shares of Sphere Entertainment Co. (SPHR) tumbled nearly 14% on Monday, their worst day in over a year, after a Wall Street analyst downgraded the stock and said demand for one of the venue's major flagship experiential productions is cooling faster than expected. Sphere Entertainment stock closed at $110.80 and inched up 0.6% in overnight trading. Craig-Hallum Sees No Meaningful Demand Increase At SphereCraig-Hallum analyst Ryan Sigdahl downgraded Sphere Entertainment to 'hold' from 'buy,' according to a summary of the note on The Fly, and lowered his price target to $132 from $170, citing "faster-than-expected" weakening in demand for “The Wizard of Oz”. The new target still implies 19% upside from Monday's close. Sigdahl said recent numbers show the updated version of the show, released Sept. 25, has not meaningfully increased demand. He also plans to cut his financial estimates, citing deteriorating demand trends.

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Marvel Studios’ release of Avengers: Endgame: Encore was a shrewd gambit for a few reasons: It put the studio’s most successful film back in conversation right after the juggernaut success of Spider-Man: Brand New Day; it tided die-hards over with new footage ahead of December’s Avengers: Doomsday; and, perhaps most importantly, it raked in an additional $138 million for the film, reinstating its position as the worldwide box office champion over James Cameron’s Avatar. Cameron, who certainly doesn’t spend his precious time fretting about such matters as lifetime financial grosses and being the best in the world at stuff, recently expressed his congratulations to Marvel for once again overtaking his 2009 sci-fi film. “You are one of the people,” the director wrote (per The Wrap) in a composite image from Avatar, with Iron Man at the center of a welcoming Na’vi tribe. “Congratulations to Marvel and the #1 Avengers: Endgame: Encore for bringing moviegoers to the cinemas! – Jim Cameron.”