Sphere Entertainment's Expansion Ignites Investor Interest Amid BTIG Upgrade
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Sphere Entertainment (NASDAQ: SPHR) has attracted investor interest following BTIG's upgrade from neutral to buy, with a price target of $110, indicating an 18% potential gain. The company plans to open a new 6,000-seat venue in Washington, D.C. by 2028, which could generate $30 million to $50 million annually. This expansion complements its flagship Las Vegas Sphere and a future venue in Abu Dhabi. Following the upgrade, Sphere's shares rose over 3%, with a strong analyst consensus favoring buy recommendations. The company is also enhancing revenue through concert advertising and licensing deals.
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