Sphere Entertainment's stock climbs after Sphere venue opens with stunning U2 concert

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Sphere Entertainment's stock climbs after Sphere venue opens with stunning U2 concert
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The Sphere concert venue opened in Las Vegas with a stunning show by U2

Shares of Sphere Entertainment Co. rose 5.8% in premarket trades Monday after the eagerly-anticipated opening of the Sphere with a stunning show by U2.

JPMorgan Chase & Co. recently raised its Sphere Entertainment SPHR, -1.28% price target to $28 from $25 following the company’s fourth-quarter results. “While the attention the exosphere received on social media and the press has given us incremental confidence on what forward demand will be from artists, consumers, and corporate partners, the ultimate success of the venue, and viability of future Spheres, will hinge largely on original content,” wrote JP Morgan analyst David Karnovsky.

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U2 concert uses stunning visuals to open massive Sphere venue in Las VegasU2 concert uses stunning visuals to open massive Sphere venue in Las VegasTwo helicopters zoomed through the starlit skies before producing spotlights over a Las Vegas desert and U2 frontman Bono, who kneeled to ground while singing “Vertigo.”
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