Madison Square Garden Entertainment (MSGE) assets are likely to be "well positioned" as trends across concerts, sports, and live entertainment have been "healthy" so far in this earnings cycle, Morgan Stanley said in a Monday note.
The main focus lies on Madison Square's fiscal 2026 guidance when it reports its fiscal Q4 results, and most importantly, any updates regarding concert bookings pacing or the health of consumer spend at its venues, the note added.
The company likely faces a "high visibility" in H1 fiscal 2026, the note said, adding "limited visibility will likely be reflected in its initial outlook."
Additionally, Morgan Stanley said that it anticipates the firm's fiscal 2026 guidance will mention potential challenges around special events and sports playoffs that may not recur in the fiscal year.
Morgan Stanley hiked Madison Square Garden's price target to $44 from $41 and maintained an equalweight rating on the stock.
Shares of the company were up 1.8% in recent Tuesday trading.
Price: 39.64, Change: +0.71, Percent Change: +1.82