Update shared on17 Sep 2025
Fair value Increased 6.86%Analysts have raised Sphere Entertainment's price target to $57.60, citing disruptive live event offerings, strong Exosphere advertising potential, and differentiated original content, supported by robust segment profitability and improved medium-term confidence.
Analyst Commentary
- Bullish analysts cite Sphere's disruptive approach to live events and immersive experiences, enabling premium pricing and improved venue utilization.
- Upgraded price targets are supported by Sphere's ability to generate substantial advertising revenue through the Exosphere.
- The launch of original "Sphere Studios" shows is viewed as a key differentiator driving long-term growth potential.
- Record adjusted operating income in the Sphere segment, despite softer Sphere Experiences revenues, underpins higher analyst estimates.
- Valuation adjustments are partly attributed to rolling models forward to mid-2026, reflecting greater confidence in medium-term prospects.
What's in the News
- Sphere Entertainment unveiled advanced audio and haptic technologies for The Wizard of Oz at Sphere, offering audiences an immersive, multisensory film experience.
- The original film’s mono score has been digitally separated, re-recorded by over 80 musicians in its authentic style, and enhanced using Sphere’s 167,000 programmable speakers for unprecedented clarity and depth.
- Sphere Studios collaborated with Warner Bros. Post Production to meticulously preserve cast vocals while enabling a dynamic, spatial soundscape that reflects on-screen movements.
- Specialty instruments, like the original ocarina from "If I Only Had a Brain," were used in the new score recording to maintain the film’s historic authenticity.
- Exclusive hotel packages for The Wizard of Oz at Sphere are available through The Venetian Resort Las Vegas.
Valuation Changes
Summary of Valuation Changes for Sphere Entertainment
- The Consensus Analyst Price Target has risen from $53.90 to $57.60.
- The Discount Rate for Sphere Entertainment has fallen from 11.01% to 10.37%.
- The Consensus Revenue Growth forecasts for Sphere Entertainment has risen slightly from 6.5% per annum to 6.8% per annum.
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