UPDATE: Morgan Stanley Starts Madison Square Garden Entertainment (MSGE) at Equalweight

(updating comment)

Morgan Stanley analyst Benjamin Swinburne initiates coverage on Madison Square Garden Entertainment (NYSE: MSGE) with a Equalweight rating and a price target of $80.00.

The analyst comments "MSG's anchor assets – Madison Square Garden and its yet-tobe built Las Vegas Sphere – should eventually generate a level of earnings that suggest shares are likely undervalued today. In the near term, however, we see substantial losses in the core business and significant uncertainty at Sphere."

For an analyst ratings summary and ratings history on Madison Square Garden Entertainment click here. For more ratings news on Madison Square Garden Entertainment click here.

Shares of Madison Square Garden Entertainment closed at $73.15 yesterday.

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