Sphere Entertainment stock jumps on Guggenheim price target hike

Sphere Entertainment Co (NYSE:SPHR) shares rose 5.6% on Wednesday after Guggenheim analyst Curry Baker raised the price target on the stock to $208 from $193 while maintaining a Buy rating.

The stock gained following the analyst’s reiteration of a positive outlook, citing multiple near-to-mid-term catalysts ahead for the company.

Baker noted that shares have been under pressure over the last two weeks due to soft August Ticketmaster data and weak August tourism in the Las Vegas market overall. However, the analyst expects the company’s "Wonders of the World" experience to benefit from increasingly favorable seasonality trends in Las Vegas post-Labor Day and the debut of version 2.0 on September 25, which will feature new and expanded 4D effects, scenes, scents, and experiences.

The analyst models Sphere Entertainment adjusted operating income for 2026 of $253 million, which includes approximately $20 million of drag from equity compensation and restructuring.

Baker highlighted a robust catalyst path expected over the next six months, including at least one additional new Sphere announcement and likely a fourth piece of content that could debut in late 2027 or early 2028. The analyst believes this will be globally known franchise intellectual property meant to be the primary replacement for the current "Wonders of the World" experience.

The analyst also expects continued momentum on venue utilization and sponsorship/advertising into 2027, noting that Sphere Las Vegas remains under monetized in the sponsorship and advertising area.