Market Overview

UPDATE: Miller Tabak & Co. Raises Madison Square Garden's PT

Related MSG
Madison Square Garden Shares Slip On Macquarie Downgrade
UPDATE: Morgan Stanley Reiterates On Madison Square Garden On Continued Upside
Traders Cheer Rangers Win, Bid Up MSG (Fox Business)

According to a research report published this morning, Miller Tabak & Co. has increased Madison Square Garden's (NASDAQ: MSG) PT from $37 to $40.

Miller Tabak & Co. commented in the report, "We are increasing our Madison Square Garden Company (MSG-$38.36-Neutral-Target $40) estimates to reflect the F3Q12 outperformance on revenue ($400.5 mm (+21%)), OCF ($80.2 mm (46%, 20.0% margin)), and Net Income ($31 mm or $0.40/sh). In addition, we are increasing our MSG Media and MSG Sports divisional revenue and AOCF estimates in F4Q12 and 2013 due to better NHL Rangers and NBA Knicks playoff performance that is translating into higher viewership and advertising at Media, and attendance and ancillary revenue at Sports divisions."

Madison Square Garden closed yesterday at $38.36.

Posted-In: Miller Tabak & Co.Analyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (MSG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters