Madison Square Garden Entertainment (MSGE) PT Raised to $49 at Guggenheim

Guggenheim analyst Curry Baker raised the price target on Madison Square Garden Entertainment (NYSE: MSGE) to $49.00 (from $42.00) while maintaining a Buy rating.

The analyst comments "We have updated our model for MSGE's F4Q earnings and management's outlook for FY25. MSGE guided high-single to low-double digit AOI growth for FY25 (we are at $230mm, +9% y/y, up from $218mm prior). The bookings business continues to track above FY24, and consumer demand remains resilient. We model revenue growth up low-single digits due to Billy Joel ending his residency at The Garden which MSGE promoted - ex Billy Joel revenue would be up mid-single digits. Raising our PT to $49 (from $42) on our higher AOI outlook."

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