Entertainment Giants Rise as Estee Lauder Stumbles: Analyst Upgrades and Downgrades

Get ready for some exciting moves in the media and entertainment industry! Analysts have turned their attention to two major players, Sphere Entertainment and Fox Corp, predicting substantial growth for both. Sphere Entertainment, which owns the iconic Las Vegas Sphere, could see a 23% surge, while Fox is projected to gain 18%. Meanwhile, Bank of America has changed its tune on Estee Lauder, downgrading the cosmetics company after an earlier upgrade in March.Analysts are bullish on these two media giants, with Sphere Entertainment's Las Vegas Sphere attracting travelers and artists alike, and Fox Corp's sports streaming portfolio offering promising opportunities. JPMorgan has upgraded Sphere Entertainment to overweight, while Wells Fargo has double upgraded Fox Corp to overweight. Troubles in China have led Bank of America to downgrade Estee Lauder to neutral from a buy rating. The beauty stock faces profit headwinds from a delayed recovery in China, causing shares to slump and EPS estimates to be lowered. New Street Research has upgraded Cisco Systems to a buy rating, citing improving inventories and order flow. Piper Sandler has also upgraded Microchip Technology, expecting 'numerous growth levers' to ramp up in the short run.