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

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Stocks Hitting 52-Week Highs
UPDATE: Madison Square Garden Tops Q2 Views

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.

Latest Ratings for MSG

DateFirmActionFromTo
Jan 2015JefferiesInitiates Coverage onHold
Nov 2014Morgan StanleyDowngradesOverweightEqual-weight
Nov 2014JP MorganMaintainsNeutral

View More Analyst Ratings for MSG
View the Latest Analyst Ratings

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

 

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