{"id":52474,"date":"2023-08-24T11:26:14","date_gmt":"2023-08-24T15:26:14","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/madison-square-garden-entertainment-a-new-buy-at-bofa-shares-gain-4\/"},"modified":"2023-08-24T11:26:16","modified_gmt":"2023-08-24T15:26:16","slug":"madison-square-garden-entertainment-a-new-buy-at-bofa-shares-gain-4","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=52474","title":{"rendered":"Madison Square Garden Entertainment a new Buy at BofA, shares gain 4%"},"content":{"rendered":"
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\u00a9 Reuters. Madison Square Garden Entertainment a new Buy at BofA, shares gain 4%<\/span>
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BofA Securities initiated coverage on Madison Square Garden Entertainment <\/span><\/span> Corp (NYSE:) with a Buy rating and a price target of $41.00. Shares gained more than 4% intra-day today.<\/p>\n

Following its separation from Sphere, BofA considers MSGE, which possesses renowned venues like Madison Square Garden and The Chicago Theatre, as an attractive opportunity to invest in a growth-oriented company.<\/p>\n

Benefiting from its strong market position as the top-grossing venue of its scale globally, MSGE stands to gain from the surge in live music and entertainment events. The bank projects mid-single-digit revenue growth and low-double-digit growth in adjusted operating income from fiscal 2023 to 2027, driven by robust trends in live entertainment.<\/p>\n

\u201cWe believe the company can successfully achieve its goals of improving venue utilization, driving more premium hospitality, and increasing sponsorship by monetizing new verticals including insurance. Additionally, we see an opportunity to increase ticket sales for the owned Christmas Spectacular production (~15% of revenue),\u201d added BofA.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Madison Square Garden Entertainment a new Buy at BofA, shares gain 4% BofA Securities initiated coverage on Madison Square Garden Entertainment Corp (NYSE:) with a Buy rating and a price target of $41.00. Shares gained more than 4% intra-day today. Following its separation from Sphere, BofA considers MSGE, which possesses renowned venues like […]<\/p>\n","protected":false},"author":1,"featured_media":5517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-52474","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nMadison Square Garden Entertainment a new Buy at BofA, shares gain 4% | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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