The firm initiated the stock on Tuesday with a buy rating, accompanied by a $41 per share price target.
The firm's forecast calls for 32% upside from Monday's $30.99 close. Analyst Peter Henderson lauded the storied venue's dominant market position and physical location in the heart of New York City as a key reason for MSGE stock to benefit from the "boom in live music/entertainment events.
mountain Madison Square Garden Entertainment in 2023. — CNBC's Michael Bloom contributed to this report.
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