Morgan Stanley Raises its Price Target on Sphere Entertainment Co. (SPHR) to $135 and Maintains an Overweight Rating

Jeff Lewis

Wed, February 18, 2026 at 1:45 PM GMT+9 2 min read

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Sphere Entertainment Co. (NYSE:SPHR) is among the 11 Best Entertainment Stocks to Buy According to Wall Street.

Morgan Stanley Raises its Price Target on Sphere Entertainment Co. (SPHR) to $135 and Maintains an Overweight Rating

On February 13, 2026, Morgan Stanley raised its price target on Sphere Entertainment Co. (NYSE:SPHR) to $135 from $105 and maintained an Overweight rating, citing stronger-than-expected results from The Wizard of Oz. The firm said the performance lifts its estimates for the Las Vegas Sphere and increases its confidence in incorporating additional Sphere venues into its base case.

That same day, Goldman Sachs increased its price target to $126 from $108 and kept a Buy rating, saying its medium- to long-term thesis remains intact. The firm pointed to sustained demand for live entertainment, growing interest in additional Las Vegas Sphere venues, and expanding content and advertising partnerships. Goldman identified key catalysts for 2026 and beyond, including the performance of The Wizard of Oz, new residencies, multiyear sponsorships, and future franchise or intellectual property launches. Also on February 13, BTIG raised its price target to $127 from $110 and maintained a Buy rating, calling the quarter excellent as The Wizard of Oz exceeded pricing assumptions and supported higher financial contribution expectations.

Sphere reported fourth-quarter revenue of $394.28 million on February 12, 2026, above the $377.6 million consensus estimate. Executive Chairman and CEO James Dolan said the results validate the business model and highlighted plans to expand the global footprint, including projects in Abu Dhabi and National Harbor.

Sphere Entertainment Co. (NYSE:SPHR) operates as a live entertainment and media company through its Sphere and MSG Networks segments.

While we acknowledge the potential of SPHR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Most Profitable Undervalued Stocks to Buy and 11 Best Mining Stocks to Buy According to Wall Street.

Disclosure: None.

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