SPHR Stock Slapped With Downgrade As 'Wizard Of Oz' Interest Cools, But Retail Is 'Extremely Bullish' - TradingView

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.