UPDATE: Miller Tabak & Co. Raises Madison Square Garden's PT
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
|Dec 2015||Guggenheim Securities||Initiates Coverage on||Buy|
|Nov 2015||Albert Fried & Co.||Downgrades||Overweight||Market Perform|
|Nov 2015||Macquarie||Initiates Coverage on||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.