Sphere Entertainment is trading 6.36% down at €92.68 after Craig-Hallum downgraded it to Hold from Buy amid concerns that demand for The Wizard of Oz at Sphere is weakening faster than expected.
- Craig-Hallum cut its target to $132 from $170; StoneX and BTIG also cut targets, citing slower bookings or a more cautious near-term revenue outlook.
- Broader markets are lower ahead of the Fed minutes, which may add pressure.